New Delhi: Arvind Kumar set to be the next Managing Director (MD) of Chennai Petroleum Corporation Limited (CPCL), a subsidiary company of Indian Oil. He has been recommended for the post by the Public Enterprises Selection Board (PESB) panel on Tuesday. He is currently serving as Executive Director (Projects) Refineries HQ of Indian Oil, New Delhi. Currently, CPCL's Director (Finance) Rajeev Ailawadi is holding the additional charge of CPCL's MD post.
Kumar has been recommended for the post of MD of CPCL from a list of eight candidates who interviewed by the selection panel. There were a total of three candidates including Kumar who were on the list were from India Oil and one each from Chennai Petroleum Corporation Limited, Madras Fertilizers Limited, Fertilizers & Chemicals Travancore Limited, Indian Telecommunication Service and REPCO Home Finance Limited.
As Managing Director (MD) of CPCL, Kumar will be the chief executive of the corporation and will be accountable to its board of directors, holding company and the government. He also will be responsible for the efficient functioning of the corporation for achieving its corporate objectives and performance parameters.
Chennai Petroleum Corporation Limited (CPCL) a group company of Indian Oil is an Indian state-owned oil and gas corporation headquartered in Chennai. The company was formed as a joint venture in 1965 between the government, AMOCO and National Iranian Oil Company (NIOC), having a shareholding in the ratio 74 percent: 13 percent: 13 percent respectively. From the grassroots stage, CPCL Refinery was set up with an installed capacity of 2.5 million tonnes per year in a record time of 27 months at a cost of Rs. 430 million without any time or cost overrun.
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