New Delhi: Abhijit Majumder has taken over as the Director (Finance) of Oil India Limited (OIL) as of November 20. He succeeds Harish Madhav, who retired from the role on June 30. Majumder was selected for the position by the Public Enterprises Selection Board (PESB) on September 2.
Majumder has been with OIL since 1998 and brings over 32 years of experience in financial management and corporate governance. Before this appointment, he served as Chief General Manager (F&A – Accounting Policy) at OIL. Over the years, he has held several key roles, including leading the Project Finance Department for OIL’s Bay Exploration Project and working as CFO for HPOIL Gas Private Limited, a joint venture between OIL and HPCL.
His professional qualifications include degrees in economics and law, along with certifications in forex management and valuation. He is also a member of the Institute of Cost & Management Accountants of India.
This appointment comes at a crucial time for OIL as it looks to strengthen its financial strategy in a dynamic energy market. With his experience in finance and project management, Majumder is expected to play a pivotal role in shaping the company’s financial policies and ensuring efficient governance.
OIL has stated that Majumder’s appointment aligns with its focus on maintaining financial stability while pursuing sustainable growth initiatives. His extensive experience in financial management and project planning is expected to help OIL navigate challenges in the energy sector, ensuring the company remains competitive and aligned with evolving industry demands.
