New Delhi: Hindustan Petroleum Corporation Limited’s (HPCL) Executive Director Rajneesh Narang has been appointed as Chief Financial Officer (CFO) of the company. The Board of Directors of HPCL Limited in its board meeting held on June 30, have appointed him on the post with effect from July 01, 2021. This information has been shared by the petroleum PSU in a regulatory filing to the stock exchanges on Thursday.
Narang is a Chartered Accountant and has held senior positions in the company and handled various areas of finance covering corporate finance, treasury, risk management, margin management, marketing finance, SBU commercial, refinery project etc. and has over three decades of experience.
HPCL is an Indian oil and natural gas company with its headquarters in Mumbai, Maharashtra. It has about 25 percent market share in India among Public Sector Undertakings (PSUs) and strong marketing infrastructure. ONGC, also the second promoter of the company (the first promotor is the President), owns 51.11 percent shares in HPCL and others are distributed amongst financial institutes, public and other investors. The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. HPCL got removed from NIFTY 50 INDEX in March 2019. Recently on October 24, 2019, the company has conferred with Maharatna status.
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