New Delhi: V Satish Kumar has taken over additional charge as Chairman of Indian Oil Corporation Limited (IOCL) with effect from September 1. He will concurrently serve as Chairman while continuing in his role as Director (Marketing), a position he has held since October 2021. He also held the additional charge of Director (Finance) for a period of one year from October 2022, a period characterized by geopolitical tensions due to the Ukraine-Russia conflict.
With a career spanning 35 years, Kumar has served in various regions across the country and held key positions, leading Indian Oil’s efforts to maintain its leadership in the marketing of petroleum products. He has also gained extensive experience in engaging with multinational oil companies, serving as non-executive Chairman of Indian Oil Petronas Pvt Ltd, a joint venture between Indian Oil and Petronas (Malaysia), and as Non-Executive Chairman of Indian Oil Mauritius Ltd, a subsidiary of Indian Oil.
In his capacity as Director (Marketing), he ensured uninterrupted supplies of petroleum products across the various geographies even during the times of natural calamities or other disruptions, exemplifying the spirit of “Nation First “and “On Duty Always”.
The Marketing Division under his leadership ensured highest-ever physical performance year upon year in the last 3 years. In his tenure, Indian Oil embarked upon large scale modernisation of its retail outlets with new retail visual identity and setting up of new bottling plants, terminals and large retail outlets with wayside amenities on highways in line with Prime Minister’s vision.
During this period, Indian Oil emerged as leader in sales of High Octane and energy efficient fuels, Green Combo Lubricants, Composite LPG Cylinders and 25 Kg Bitumen packs in the market for making products affordable and customer conveniences.
He has led Marketing Division in making aggressive forays and taken leadership positions in marketing alternate and clean energy solutions like E mobility, Bio- fuel blends. Indian Oil is the only Oil company to market Ethanol 100, AV Gas 100 LL, Methanol blend Diesel etc.
Kumar has rolled out a clear business plan for all functions of Marketing Division to maintain its position as India’s premier Oil & Gas retailer. He has deployed advanced analytics for deriving efficiencies and take informed decisions. He has laid special focus on improving brand equity of Indian Oil due to which the Indian Oil’s brand strength index attained 9th rank in 2023 and moved up to 3rd rank in top brands in Oil & Gas companies across the world.
Prior to his appointment as Director (Marketing), Kumar has held the position of State Head for the states of Madhya Pradesh and Chhattisgarh. As State Head, he played a pivotal role in implementing key business initiatives such as the Direct Benefit Transfer for LPG consumers (DBTL), the Pradhan Mantri Ujjwala Yojana (PMUY).
Kumar is a Mechanical Engineer with a postgraduate degree in Management from the University of Ljubljana, Slovenia. As Chairman, he is poised to lead Indian Oil with a vision of continued growth, sustainability, and global leadership in the energy sector.
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