New Delhi: Satish Kumar Vaduguri is set to be the next Director (Marketing) of Indian Oil Corporation Limited (IOCL), a Maharatna PSU under the Ministry of Petroleum & Natural Gas. He has been recommended for the post by a panel of the Public Enterprises Selection (PESB) board on Tuesday. He is currently serving as Executive Director in the same organisation.
Satish Vaduguri has been selected for the post of Director (Marketing) of Indian Oil from the list of nine candidates, who appeared and were interviewed by the selection panel. There were a total of six candidates, including Vaduguri, who were on the list were from Indian Oil, two candidates from BSNL, and one from HPCL. The Director (Marketing) post in Indian Oil is vacant since April 1.
As Director (Marketing) of India Oil, Vaduguri will be a member of the Board of Directors and will report to the Chairman. His duties will be to contribute to the formulation of corporate plans, policies, strategies, both short and long term towards attaining the business objectives of the corporation. He will lead the marketing activities of the company and will be responsible for the overall performance of the downstream petroleum business of the company.
Indian Oil Corporation Limited (IOCL), commonly known as Indian Oil is a government-owned oil and gas company headquartered in New Delhi. It is a Maharatna PSU under the Ministry of Petroleum and Natural Gas (MoPNG). IndianOil is the largest commercial oil company in the country. It is ranked 1st in Fortune India 500 list for the year 2016 and 117th in the Fortune Global 500 list of the world's largest companies in the year 2019. It is India's largest downstream oil company, with a workforce of more than 33,000 employees, a turnover of Rs 506,428 crore, and a net profit of Rs 21,346 crore in 2017–18. (PESB recommendation news)