"He will concurrently serve as chairman while continuing in his role as director of marketing, a position he has held since October 2021," the company said in a statement.
Experience
Kumar, with a career spanning 35 years, has worked in various regions across the country and held key positions within IOC. He is known for maintaining the company's leadership in marketing petroleum products and ensuring uninterrupted supplies even during disruptions.
Before becoming director of marketing, Kumar was the State Head for Madhya Pradesh and Chhattisgarh. In this role, he played a significant part in implementing key initiatives like the Direct Benefit Transfer for LPG consumers (DBTL) and the Pradhan Mantri Ujjwala Yojana (PMUY).
Kumar also held the additional charge of director of finance for one year from October 2022, a period influenced by geopolitical tensions due to the Ukraine-Russia conflict. His term saw IOC navigating through these challenges while keeping the supply chains intact.
"In his capacity as director of 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 added.
Role in IOC
Kumar has been instrumental in driving the marketing division into alternative and clean energy solutions sectors such as e-mobility and bio-fuel blends. IOC remains the only oil company marketing ethanol 100, AVGas 100 LL, and methanol blend diesel.
Under Kumar's leadership, the marketing division of IOC achieved its highest ever physical performance in the last three years. The company initiated large-scale modernisation projects, involving updates to retail outlets' visual identity and the establishment of new bottling plants, terminals, and large retail outlets with amenities on highways.
During this tenure, IOC became a leader in the sales of high-octane and energy-efficient fuels, green combo lubricants, composite LPG cylinders, and 25 kg bitumen packs. These efforts aimed to make the products affordable and enhance customer convenience.
Education
Kumar's education includes a mechanical engineering degree and a postgraduate degree in management from the University of Ljubljana, Slovenia.
As chairman, Kumar is expected to drive IOC’s vision of continued growth, sustainability, and global leadership in the energy sector.
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