Essar Oil announced the appointment of Mr Virendra Singh Jain as an independent director. L K Gupta MD & CEO, Essar Oil said, “We welcome Virendra Singh Jain to the Essar Oil family. With an experience of over three decades at the helm of public and private sector enterprises, including two Maharatnas, his wide ranging experience and financial expertise will greatly enrich Essar Oil’s board.”
Jain is a fellow member of the Institute of Chartered Accountants of India and Institute of Cost Accountant of India. He retired from SAIL as the Chairman in 2006, having joined the Maharatna as Director Finance. Prior to that, he worked with Indian Oil Corporation for 26 years, where he was responsible for international negotiations for procurement of crude and petroleum products and implementation of financial strategies and financial appraisal of projects.
With Jain’s appointment, Essar Oil’s board strength increases to 12, including six independent directors.
