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.
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