V Satish Kumar has officially taken on the role of Chairman of Indian Oil Corporation Ltd (Indian Oil), while continuing his responsibilities as Director of Marketing. Kumar, who has been with IndianOil for 35 years, steps into this leadership position after having served as Director of Marketing since October 2021. His tenure as Director also included a year-long period as Director of Finance, during a time marked by the geopolitical challenges of the Ukraine-Russia conflict.
Kumar’s extensive career has seen him take on various key roles across the country, where he has been instrumental in driving IndianOil’s market leadership in petroleum products. His experience extends beyond Indian borders, having served as Non-Executive Chairman of Indian Oil Petronas Pvt Ltd, a joint venture with Malaysia’s Petronas, and as Non-Executive Chairman of Indian Oil Mauritius Ltd.
During his time as Director of Marketing, Kumar played a crucial role in ensuring the uninterrupted supply of petroleum products across India, even in the face of natural disasters and other disruptions. His leadership has been a testament to IndianOil’s commitment to the nation, embodying the ethos of ‘Nation First’ and ‘On Duty Always.’
Under Kumar’s guidance, IndianOil’s Marketing Division achieved its highest-ever performance levels over the past three years. This period also saw the company embark on significant modernization initiatives, including upgrading retail outlets, establishing new bottling plants and terminals, and introducing large retail outlets with highway amenities in line with the Prime Minister’s vision.
IndianOil has also taken a leading position in the market for high-octane and energy-efficient fuels, green lubricants, and innovative products such as composite LPG cylinders and 25 Kg bitumen packs. Kumar has been at the forefront of IndianOil’s push into alternate and clean energy solutions, making the company the only oil entity in India to market products like Ethanol 100, AV Gas 100 LL, and methanol-blend diesel.
In his strategic approach, Kumar has laid out a comprehensive business plan to maintain IndianOil’s leadership in the oil and gas sector. By leveraging advanced analytics, he has driven efficiency and informed decision-making across the organization. His focus on improving brand equity has seen IndianOil’s brand strength index rise to 9th in 2023, and it now ranks 3rd among the top oil and gas brands globally.
Before his current roles, Kumar served as the State Head for Madhya Pradesh and Chhattisgarh, where he was instrumental in implementing critical initiatives such as the Direct Benefit Transfer for LPG consumers (DBTL) and the Pradhan Mantri Ujjwala Yojana (PMUY).
With a background in mechanical engineering and a postgraduate degree in management from the University of Ljubljana, Slovenia, Kumar is set to lead IndianOil into a new era of growth, sustainability, and global leadership in the energy sector.