Arvinder Singh Sahni will be the new chairman of Indian Oil, he is currently handling this responsibility
The new chairman of the country’s largest oil company Indian Oil Corporation has been finalised. Arvinder Singh Sahni will now be the new chairman. The Petroleum Ministry has issued this order on Wednesday. 54-year-old Sahni is currently the Executive Director (Business Development – Petrochemicals) at Indian Oil Corporation Limited (IOCL). According to PTI news, in August he was selected as the company’s business development director, but now he has been appointed as the chairman of the company.
Appointed for a period of five years
According to the news, the Ministry of Petroleum and Natural Gas said in an order that the Appointments Committee of the Cabinet (ACC) has approved the proposal of this ministry to appoint IOC Executive Director Arvinder Singh Sahni as the Chairman of IOC for a period of five years. The post of IOC Chairman fell vacant after Srikant Madhav Vaidya completed his extended term on August 31, 2024. Currently, Satish Kumar Waduguri (Director, Marketing, IOC) is holding the additional charge of Chairman of the Fortune 500 company. Sahni will be the second person after B Ashok to be promoted to the top post of the company without board experience.
A dozen candidates were interviewed
Ashok was also Executive Director (Retail) when he was appointed Chairman of IOC in July 2014. In mid-August, the three-member search-cum-selection-committee interviewed about a dozen candidates for the top post at IOC. Later, vigilance profiles of four internal candidates – Arvind Kumar (director, refinery, IOC), Sahni, Sanjay Parashar (ED, marketing, IOC) and Saumitra Shrivastava (ED, marketing and head of Maharashtra region, IOC) – were sought. Sahni’s name was approved for the top post at IOC after the approval of anti-corruption watchdog CVC. Sahni has been associated with the company for the last three decades.
Sahni joined IOC in 1993
After receiving schooling in Lucknow, he is a chemical engineer from Harcourt Butler Technical University, Kanpur. He joined IOC in 1993 after working briefly at Tata Chemicals. He was appointed the executive director of the company in February 2022. He was selected from among a dozen candidates for the post of director (business development) at IOC by government headhunter Public Enterprise Selection Board (PESB) on August 20. Earlier on August 11, he was one of the 11 candidates interviewed by the search-cum-selection committee for the top post in the IOC.
