IndianOil CFO Anuj Jain takes over as Lanka IOC Chairman

Anuj Jain

Lanka IOC PLC, the Sri Lankan unit of Indian Oil Corporation Ltd, yesterday announced it has appointed IndianOil Director Finance and Chief Financial Officer Anuj Jain as its new Chairman, replacing Satish Kumar Vaduguri, who retired earlier this month.

The appointment, effective August 22, was approved by the board on August 25, the company said in a stock exchange filing.

Jain, a chartered accountant with a Master’s in Business Finance, has more than 28 years of experience in the oil and gas industry. 

At IndianOil, he leads finance, treasury, accounts, international trade and supply chain operations, while also overseeing taxation, corporate affairs and IT systems, including the company’s migration to SAP S/4 HANA.

He has played a central role in IndianOil’s crude and LNG sourcing strategies during the volatile geopolitical conditions and in building its renewable energy portfolio. This includes a joint venture with NTPC for 650 MW of renewable assets, a stake in Sun Mobility Singapore for battery swapping and a partnership with Panasonic to manufacture lithium-ion battery cells in India. 

Jain is also steering IndianOil’s plan to develop 30 GW of renewable energy capacity by 2030.

Earlier in his career, Jain was posted in Colombo as Senior Vice President of Lanka IOC, where he worked with the Indian High Commission on issues of national importance. 

His contributions have been recognised with the Economic Times CFO Award and CA CFO Award from the Institute of Chartered Accountants of India.

The board also appointed Saumitra P. Srivastava and Rajesh Singh as Non-Executive Directors, replacing Rani Venkata Naga Vishweshwar and Nikhil Deep Mathur.

None of the incoming or outgoing directors hold shares in Lanka IOC, the company said.