Interim Chairmen Named for IOC and HPCL

29 Aug 2024 CW Team

The government announced interim chairmen for two major oil firms, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL), as the search for permanent heads continues. According to an order from the oil ministry, Satish Kumar Vaduguri, the Director of Marketing at IOC, has been appointed as the interim chairman of the company for a three-month period beginning September 1. He will succeed Shrikant Madhav Vaidya, who will complete his extended term at the end of the month.

In a separate directive, the ministry named Rajneesh Narang, Director of Finance at HPCL, as the interim chairman and managing director for a three-month term starting September 1. Narang will take over from Pushp Kumar Joshi, who will retire upon reaching the age of 60 on August 31.

Due to the inability of the PESB to find suitable candidates, three-member search-cum-selection committees are now tasked with finding new leaders for both IOC and HPCL. On August 11, the panel interviewed nearly a dozen candidates and is reported to have shortlisted Sandeep Gupta, the former Director of Finance at IOC and current Chairman and Managing Director of GAIL. His appointment is now under review by the Appointments Committee of the Cabinet.

Vaidya, who began his role as chairman of IOC on July 1, 2020, was initially set to retire on August 31, 2023, upon reaching the age of 60. However, in an unusual decision, he was re-employed on a contract basis for one year beyond his retirement date, from September 1, 2023, to August 31, 2024, as stated in an official order dated August 4, 2023.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..