Shrikant Madhav Vaidya aims to immediately ensure continuity in supplies and operations amid muted demand expected ahead.
India’s largest state-run oil refiner and fuel retailer- Indian Oil names Shrikant Madhav Vaidya as its Chairman. Currently, he is the director (refineries) in the company; The Cabinet’s appointments on Tuesday announced the latest elevation to Chairman. He will succeed Sanjiv Singh, who demits office on June 30 sources said.
He is a Chemical Engineer from the National Institute of Technology, Rourkela. Shri Vaidya has over 3 decades of extensive experience in all the facets of refinery and petrochemicals operations, which includes the commissioning of the largest Cracker Plant in India viz. Panipat Naphtha Cracker Complex.
Government head-hunter PESB had on December 12 recommended Vaidya, as the next chairman of the company after interviewing three other directors — Ranjan Kumar Mohapatra, SSV Ramkumar, Sandeep Kumar Gupta — and Rahul Bharadwaj, who is an executive director.
Prior to his elevation, Shri Vaidya was heading the Operations Department at the Refineries Division, ensuring healthy gross refining margins, a smooth supply of products, and eco-friendly business operations. During his tenure, the Refineries Division registered record performance on all major physical parameters. He has also steered the timely roll-out of BS-VI grade auto fuels in NCR and has expanded the green energy options with bio-fuel & ethanol-blended fuel-related projects in IndianOil refineries.
With a strong technological prowess, business acumen, and people-centric leadership style, Shri Vaidya nurtures a strong vision of leveraging technology, innovation & sustainable solutions for the company’s transformation into an integrated energy major.
Shri Vaidya is also a Director on the Board of Chennai Petroleum Corporation Ltd. (a Subsidiary of IndianOil) and Ratnagiri Refinery & Petrochemicals Ltd. (a Joint Venture Company).
As chairman Vaidya’s will join;he aims to immediately ensure continuity in supplies and operations amid muted demand expected ahead. He will also be responsible to nurture the next generation of Human Resources about fast transition happening on the ground.