New Delhi: According to an order from the oil ministry, Satish Kumar Vaduguri, Director (Marketing), of Indian Oil Corporation (IOC), has been named temporary chairman of the business for three months, beginning on September 1. He takes over for Shrikant Madhav Vaidya, who will end his extended tenure at the end of the month. The government has appointed interim chairs as the selection of full-time leaders of IOC is still pending.
Overseeing retail and direct sales, LPG, lube sales, operations, project management, planning, HRD, and information technology, Kumar served as the business leader for Madhya Pradesh and Chhattisgarh. Important business initiatives including the Pradhan Mantri Ujjwala Yojana (PMUY), the switch to BS-VI fuel, and Direct Benefit Transfer for LPG Consumers (DBTL) have all been implemented with his help. He contributes to the team his more than thirty years of experience in the marketing of petroleum products throughout the nation’s many regions.
Additionally, Satish Kumar served on the boards of Beximco IOC Petroleum & Energy Ltd., a joint venture between Beximco, Bangladesh, and IOC Middle East FZE, a wholly-owned subsidiary of IndianOil in Dubai. He was also the CEO of IndianOil Petronas Pvt. Ltd. (IPPL), a joint venture between IndianOil and Petronas, Malaysia, at one point.
