News Release Details

Mr. S.V.Narasimhan takes additional charge as Chairman, IndianOil
New Delhi   31-Jan-2011

Subsequent to the superannuation of Mr.B.M.Bansal, Chairman of IndianOil, Mr. S.V.Narasimhan, Director(F), IndianOil has been entrusted with the additional charge of the post of Chairman, IndianOil , on ad-hoc basis for a period of three months, with effect from 01.02.2011 or till a regular incumbent is appointed, whichever event may occur earlier.

A Chartered Accountant by profession and an MBA from the Faculty of Management Studies, Delhi, Mr. S.V. Narasimhan joined IndianOil on 21st January, 1975 and has a rich experience of working in the oil sector for over three decades. Before taking over as Director (Finance) in IndianOil Mr. Narasimhan was the Managing Director of Chennai Petroleum Corporation Ltd. (a group company of IndianOil). His formidable financial acumen and contribution in steering the financial fortunes of IndianOil have earned him the "2008 IMA Excellence in Finance Award" amongst PSUs. Recently, Mr. S V Narasimhan was conferred with the Corporate CA Achiever – CFO (Public Sector category) award by the prestigious Institute of Chartered Accountants of India. This award recognised his remarkable contribution in adroitly handling the liquidly crunch for IndianOil during the turbulent times of high volatility in global crude oil prices.

It was under his stellar leadership that IndianOil started adopting global corporate finance practices. Mr. Narasimhan was also in-charge of the roll-out and implementation of one of the most ambitious ERP projects in Asia at IndianOil. Under his leadership, IndianOil’s ERP system and unique business continuity design has been widely appreciated and won many accolades.