ONGC appoints Subhash Kumar as CEO

Image
Capital Market
Last Updated : Apr 24 2021 | 1:16 PM IST

The board of state-run oil major appointed Subhash Kumar, director (finance), as chief executive officer (CEO) of the company.

Subhash Kumar will fill the vacancy caused upon the superannuation of Shashi Shanker on 31 March 2021.

Further, the board also appointed Vivek Chandrakant Tongaonkar, executive director (finance), as chief financial officer (CFO) of the company.

The appointments are with immediate effect, for the tenure as may be decided by the board.

ONGC's consolidated net profit dropped 31.1% to Rs 3,763.53 crore on 8.4% fall in net sales at Rs 1,00,288.83 crore in Q3 December 2020 over Q3 December 2019.

ONGC is India's largest integrated oil and gas company. ONGC is 60.41% owned by the Government of India as on 31 March 2021.

Shares of ONGC slipped 0.78% to end at Rs 102.35 on Friday.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Apr 24 2021 | 12:36 PM IST

Next Story