HPCL appoints Vikas Kaushal as Chairman and MD, 1st private sector head to lead oil PSU

Hindustan Petroleum Corporation Ltd (HPCL) has appointed Vikas Kaushal as its new Chairman and Managing Director. Kaushal is the first private sector executive to lead a state-owned oil and gas company.

However, he played a crucial role in shaping the Indian oil and gas landscape as an advisor to firms like Indian Oil Corporation, Bharat Petroleum, and GAIL, among others.

With more than three decades of experience spanning oil and gas, power, and renewables, Kaushal is an alumnus of IIM Ahmedabad.

He was twice elected to Kearney’s Global Board of Directors and also served as Managing Director and Country Head for Kearney India for five years. Prior to his appointment as the Chairman, Kaushal served as the global leader for energy and process industries at Kearney.

Notably, the government is struggling to appoint heads for several Public Sector Units (PSUs), including IOCL, and BPCL.

In December 2022, the government appointed retired BPCL chairman Arun Singh as the CEO of ONGC.

As per the Appointments Committee of the Cabinet, the pay scale of Kaushal will be between Rs 2,00,000 and Rs 3,70,000 (IDA) per month for a period of five years.

The government is in the process of selecting a new CMD for BPCL too as G Krishnakumar will be retiring in April this year.