IOC gets new head; first insider in 9 years

B Ashok was chosen by PESB in October last year

GN Bureau | July 17, 2014

B Ashok took over as full-time chairman of Indian Oil Corporation on Wednesday.

Ashok, 57, is the first insider to head Indian Oil since March 2005. Since then, the post was held by Sarthak Behuria, who moved from Bharat Petroleum, and R S Butola from ONGC Videsh.

Ashok has taken over R K Malhotra, who was appointed the acting chairman of the country's biggest oil refiner and retailer, after R S Butola's retirement on May 31.

The appointment of B Ashok was finalised by the government's headhunter Public Enterprises Selection Board (PESB) in October last year. But it was delayed after former PM Manmohan Singh did not sign the file, which was sent to the PMO after vigilance clearance.

This is the first major public sector appointment of the Narendra Modi’s government. The timely appointment has also ended the uncertainty over leadership at India's biggest oil refiner and retailer.

A mechanical engineer from Madras University, Ashok was an executive director (marketing) in the company. He has had stints in the lubricants and services division, general sales, Malaysia office as well as head of Karnataka and Kerala state offices.



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