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S M Vaidya takes over as Chairman of Indian Oil Corporation
Indian Oil Corporation (IOC), the country’s largest fuel retailer, today announced Shrikant Madhav Vaidya has taken over as the new Chairman of the company today. He will also be the Chairman of Chennai Petroleum Corporation, a refining subsidiary, and Indian Oiltanking Ltd, a joint venture.
He will also be on the board of Hindustan Urvarak & Rasayan Ltd, a joint venture setting up fertiliser plants. Vaidya, who is on the board of Ratnagiri Refinery & Petrochemicals Ltd, will take over as its Chairman and will also be Director on the Board of Petronet LNG Ltd.
Prior to his elevation, Vaidya has been Director (Refineries) on the IndianOil Board since October 2019. He succeeds Mr Sanjiv Singh who has superannuated from the services of the Corporation yesterday.
Vaidya is a chemical engineer from National Institute of Technology, Rourkela and has over 34 years of experience in refining & petrochemicals operations. He has had a decade-long association with India’s largest cracker plant – the Panipat Naphtha Cracker Complex, a major driver of IndianOil’s petrochemicals business.
“Mr Vaidya has always laid emphasis on ensuring smooth supply of products, eco-friendly business operations and healthy refining margins. During his tenure as Director (Refineries) and earlier as Executive Director (Refinery Operations) at IndianOil, he presided over several refinery expansion and petrochemical projects,” the company said in a statement.
He is also credited for the timely rollout of BS-VI grade auto fuels across the country and commencing the supply of IMO-compliant bunker fuel with 0.5 per cent Sulphur and a special winter-grade diesel for high-altitude regions of the Himalayas.
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