Varadarajan takes charge as BPCL CMD

S Varadarajan today took over charge as Chairman and Managing Director of Bharat Petroleum Corporation Limited (BPCL) from the outgoing CMD R K Singh on his retirement.

Prior to his appointment as the CMD, Varadarajan was serving as the Director- Finance of the company, a company release said.

A member of the Institute of Chartered Accountants of India and Institute of Cost and Works Accountants of India, Vardarajan had also served as Executive Director Corporate Finance and was responsible for overall Treasury Management, Risk Management, Corporate Accounts, Taxation and Budgeting.

A number of initiatives like electronic payments and collection systems, corporate risk charter and risk governance structure were undertaken under his leadership.

In addition to finance he has handled marketing as head of sales for retail business in southern region and also led the corporate strategy team.

He has also served as the Chief Financial Officer of Bharat Shell Limited, a joint venture between BPCL and Shell International, the release said.

As Director (Finance) he successfully completed BPCL's maiden issue of unsecured bonds in the international market which was over-subscribed by 15 times, the largest offering for an Indian company in 2012.

Varadarajan is also the Chairman of Petronet India Limited and Petronet CCK Limited, a Director on the Board of Bharat Oman Refineries Limited, a joint venture company promoted by BPCL and Oman Oil Company, a Director on the Board of Bharat PetroResources Limited and Bharat Star Services Private Limited.