Satish Kumar Vadugiri has officially taken over as chairman of Indian Oil Corporation (IOC), the country’s largest oil company. Vadugiri, who assumed the role on Sunday, succeeds SM Vaidya, who resigned from the position the previous day.
Vadugiri, who has served as IOC’s Director of Marketing since October 2021, will now also handle the responsibilities of chairman while retaining his current role. His appointment comes after a notable tenure as Director of Finance, a period marked by significant geopolitical tensions including the Ukraine-Russia conflict.
Vadugiri, who has worked in the oil business for 35 years, has played a crucial role in preserving IOC’s position as the industry leader in petroleum marketing. He has previously worked for international oil firms in a variety of capacities, most notably as the non-executive chairman of Indian Oil Mauritius Ltd. and Indian Oil Petronas Pvt Ltd. IOC has set records in its marketing activities, modernized its retail locations, opened additional facilities, and improved amenities at highway retail spots under his direction.
Vadugiri, a mechanical engineer with a management postgraduate degree from the University of Ljubljana, is expected to focus on driving IOC’s growth and sustainability in his new role. His extensive experience in key initiatives such as Direct Benefit Transfer for LPG consumers, the Pradhan Mantri Ujjwala Yojana, and BS-VI fuel implementation positions him well to further strengthen IOC’s global standing in the energy sector.
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