After ONGC, BPCL gets interim head in absence of regular appointment

Vetsa Ramakrishna Gupta assumed additional charge as chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL)

Vetsa Ramakrishna Gupta on Tuesday assumed additional charge as chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL) -- the second 'Maharatna' oil PSU to get an interim head in the absence of a regular appointment.

Gupta, Director (Finance) at BPCL, succeeds Arun Kumar Singh, who superannuated on October 31, a company statement said.

Government headhunter Public Enterprises Selection Board (PESB) had in March this year advertised for the post of chairman and managing director of BPCL to look for a successor for Singh.

The applications for the job closed on June 1 but PESB is yet to recommend a candidate, necessitating the appointment of an interim head.

Singh retired after serving as chairman and managing director of BPCL for 13 months.

His successor, Gupta, 51, is the senior most director on the company board and has thus been given the additional charge. He will superannuate in June 2031.

BPCL is the second oil PSU to get an interim head. Oil and Natural Gas Corporation (ONGC) is without a regular chairman and managing director since April 2021. Rajesh Kumar Srivastava, Director (Exploration), is holding additional charge. He is the third interim chairman of ONGC.

A chartered accountant as well as cost accountant, Gupta joined BPCL in August 1998 and has experience across finance functions covering commercial finance, corporate accounts, risk management, business plan, budgeting and treasury operations, the BPCL statement said.

He is currently on the board of Bharat Petro Resources Ltd and Fino Paytech Ltd. He is also a board member in the recently amalgamated companies BORL (Bharat Oman Refineries Limited) and BGRL (Bharat Gas Resources Limited), as well as MAFFL (Mumbai Aviation Fuel Farm Facility Pvt Ltd).

"As BPCL Board member, he has played an instrumental role in the formulation and implementation of strategy towards ensuring sustainable growth for the organization in the backdrop of the paradigm shift taking place in the energy landscape," the statement added.

Under his able leadership, BPCL swiftly completed the merger of BORL and BGRL, wholly-owned subsidiaries, with BPCL, along with smooth onboarding of BORL and BGRL employees into the BPCL family, it said.