Mr AMK Sinha, Director (Planning and Business Development) on the board of the country's largest oil retailer Indian Oil Corporation (IOC), has been entrusted with the additional charge of the Maharatna company as its Chairman on Monday.
His name was approved by the Government after RK Malhotra, Director (R&D), who was the senior-most member in the company's board of directors and was functioning as the acting Chairman of IOC since June 1, retired on June 30.
A Mechanical Engineer by qualification, Sinha has been heading the 'Diversification and Integration' forays of Indian Oil. This vertical is engaged in expanding the company's footprints in the fields of Exploration & Production, Petrochemicals, Natural Gas and Renewable / Clean Energy. In addition to this, he is also heading the Corporate Planning and Sustainability Development initiatives of Indian Oil, a company statement said.
Sinha is also credited for establishing Indian Oil as a petrochemical major with sales touching almost 2 MMTPA. While Sinha has been nominated as the officiating head of the Fortune 500 listed company, the fate of B Ashok, currently Executive Director (Retail Sales), who had been nominated for the Chairman's post by the nation's head hunter PESB in October 2013, continues to hang in balance, as his file is yet to be cleared by the Prime Minister's Office.