V. Satish Kumar, the director of marketing at Indian Oil Corp. Ltd (IOCL), has assumed additional responsibilities as chairman following the completion of Shrikant Madhav Vaidya's term. Kumar has been the director of marketing since October 2021, and he also took on the role of director of finance for a year starting in October 2022, a period marked by geopolitical challenges due to the Ukraine war.With a 35-year career, Kumar has held various key positions across India and has extensive experience working with multinational oil companies. He has served as the non-executive chairman of Indian Oil Petronas Pvt. Ltd, a joint venture between IndianOil and Petronas (Malaysia), and Indian Oil Mauritius Ltd, a subsidiary of IndianOil.Under his leadership, the marketing division has consistently achieved outstanding performance over the past three years. During his tenure, IndianOil undertook significant modernization efforts, including the revamping of retail outlets, establishment of new bottling plants, terminals, and large retail outlets with amenities along highways.During this time, IndianOil became a market leader in sales of high-octane fuels, energy-efficient lubricants, composite LPG cylinders, and 25 kg bitumen packs, making these products more affordable and convenient for customers. Kumar also spearheaded the company's push into alternative and clean energy solutions, such as e-mobility and biofuel blends.
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