Subhash Kumar assumes additional charge as ONGC's Chairman and Managing Director

Kumar assumed the said charge consequent upon the superannuation of Shashi Shanker on March 31, 2021.

Apr 01, 2021 04:04 IST India Infoline News Service

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State-owned ONGC has announced that Director (Finance) Subhash Kumar has assumed the additional charge of the post of Chairman and Managing Director (CMD) of the company on Thursday. Kumar assumed the said charge consequent upon the superannuation of Shashi Shanker on March 31, 2021.

Kumar is an industry veteran with over 36 years of experience in diverse activities across the Exploration & Production (E&P) value chain. He joined ONGC in 1985 as a Finance and Accounts Officer and served in different capacities. After growing up along the hierarchy in ONGC, he had a long stint at ONGC Videsh, the overseas arm of ONGC.

During his tenure with ONGC Videsh, Kumar was associated with key acquisitions and expansion of the company's footprint. He played a key role in the evaluation and acquisition of many overseas assets. He had worked as Head Business Development, Finance and Budget and also as Head Treasury Planning and Portfolio Management Group at ONGC Videsh from April 2010 to March 2015.

He served as the Chief Financial Officer of Mansarovar Energy Colombia Limited, a 50:50 joint venture of ONGC Videsh and Sinopec of China, from September 2006 to March 2010. Mr Kumar joined back ONGC as the Chief Commercial and Head Treasury in July 2016, where he played a key role in evaluation, negotiation, and concluding outstanding issues about the organization.

On Sensex, ONGC closed at Rs104.20 per piece down by 2%. 

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