The largest oil company in the country, Indian Oil Corporation (IOC), appointed V Satish Kumar as its new chairman on Sunday. After there were difficulties in locating a full-time chairman, Kumar, an IOC director of marketing, was assigned the extra responsibility of chairman.

"He will concurrently serve as chairman while continuing in his role as Director (Marketing), a position he has held since October 2021," the company said in a statement.

In addition, he served as Director (Finance) for a year beginning in October 2022. This was a time of geopolitical unrest because of the conflict between Russia and Ukraine.

Over the course of his 35-year career, Kumar has worked in several national locations and occupied important roles, spearheading IOC's attempts to keep up its position as the industry leader in petroleum product marketing.

As non-executive chairman of Indian Oil Petronas Pvt Ltd, a joint venture between IOC and Petronas (Malaysia), and as non-executive chairman of Indian Oil Mauritius Ltd, a subsidiary of IOC, he has also accrued a great deal of expertise in dealing with international oil corporations.

"In his capacity as Director (Marketing), he ensured uninterrupted supplies of petroleum products across the various geographies even during the times of natural calamities or other disruptions, exemplifying the spirit of 'Nation First' and 'On Duty Always'," the statement.

Over the previous three years, IOC's marketing section has consistently produced the best physical performance possible thanks to his guidance. During his tenure, the firm established new bottling factories, terminals, and huge retail stores with roadside amenities on highways in addition to modernizing its retail outlets on a massive scale and giving them a new retail visual identity.

In order to make goods more accessible and convenient for customers, IOC became a market leader at this time in the sales of high octane and energy-efficient fuels, green combo lubricants, composite LPG cylinders, and 25 kilogram bitumen packs.

In addition to taking the lead in promoting alternative and sustainable energy solutions including biofuel blends and e-mobility, he spearheaded the marketing division's aggressive forays. Ethanol 100, AVGas 100 LL, and methanol mix diesel are only sold by IOC.

Kumar served as the Madhya Pradesh and Chhattisgarh State Head before being appointed Director (Marketing). He was instrumental in putting important business programs like the Pradhan Mantri Ujjwala Yojana (PMUY) and the Direct Benefit Transfer for LPG Consumers (DBTL) into action while serving as the head of state.

Kumar is a mechanical engineer who graduated from the University of Ljubljana in Slovenia with a masters degree in management. According to the statement, he is well-positioned to guide IOC as chairman with a vision of sustained development, sustainability, and international leadership in the energy industry.