On Friday, the government officially appointed Vikas Kaushal as the new Chairman and Managing Director of Hindustan Petroleum Corporation Limited (HPCL), marking the beginning of a five-year tenure. This strategic decision follows the interim leadership of Rajneesh Narang, who had been serving in this role since September 1, 2024.
A Seasoned Leader in the Energy Sector
With an impressive career spanning over 30 years in the energy, oil, gas, and power sectors, Kaushal brings a wealth of experience to HPCL. His notable achievements include being elected to Kearney’s global board of directors on two occasions, showcasing his expertise and leadership in the industry. Notably, he is the only Indian to have been recognized as a suitable candidate for this prestigious board.
- Educational Background: Kaushal holds a degree in Chemical Engineering from Panjab University and an MBA from the Indian Institute of Management (IIM), Ahmedabad.
- Leadership Roles: Previously, he served as the Managing Director and Country Head for Kearney India for five years, where he significantly influenced various strategic initiatives.
Transformative Impact at IOC and Beyond
At Indian Oil Corporation (IOC), Kaushal was instrumental in launching a five-year digital transformation program that propelled the company to be a recognized leader in digital oil solutions. His leadership in strategic projects related to petrochemicals and gas has left a lasting mark in the industry.
- Key Contributions:
- Refinery Maintenance Transformation: Led initiatives that improved operational efficiency.
- Retail Transformation: Spearheaded the Dhruva retail transformation, enhancing customer service and operational standards.
During his tenure at HPCL, Kaushal established a centralized procurement office, promoting efficiency and cost savings while also driving the company’s petrochemical diversification strategy. His work on net zero planning and petrochemicals for BPCL further exemplifies his commitment to sustainable practices.
Vision for the Future
Kaushal’s leadership is anticipated to steer HPCL towards innovative solutions and operational excellence. His extensive background also includes executing corporate plans for NTPC and introducing maintenance strategies for Tata Power.
In the realm of renewable energy, he has successfully designed and implemented a commercial power sales strategy, leading to a remarkable 2 GW+ business expansion for a global renewable energy firm in India.
As Vikas Kaushal steps into his new role at HPCL, his track record of transformative leadership and strategic foresight positions him as a pivotal figure in shaping the future of the energy sector in India.
