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| Awards & Accreditations |
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| Director (Finance) wins
India’s Best CFO Award
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In a befitting recognition of the sterling contribution made by Mr. S.V.
Narasimhan, Director (Finance), to help keep IndianOil afloat and operations
running in times of extreme volatility in crude oil prices, India's Best CFO
Award was conferred on him by the Union Minister of Finance, Mr. Pranab
Mukherjee, in a glittering ceremony organised by Business Today on April 14,
2010 at New Delhi.
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The awards were presented to 14 CFOs across eight different categories as part
of the Business Today-Yes Bank study, and Mr. Narasimhan shared this honour
with the Directors (Finance) of HPCL and BPCL in the Best CFO of a PSU
category.
Speaking on the occasion, Mr. Narasimhan welcomed the efforts of Business Today
and Yes Bank to recognise the true role of CFOs to attain economic stability.
He said, "The market crisis in the previous year is a lesson for us to be
prepared for the trying situations that may come in future. The global
financial crisis was a blessing in disguise for the oil marketing companies",
he added.
The latest issue of the Business Today magazine that carries the power listing
of India's Best CFOs quotes Mr. Sarthak Behuria, former Chairman, IndianOil,
eloquently praising Director (Finance), "Mr. Narasimhan handled the working
capital crisis with a great deal of caution, judgement, tact and finesse."
Commending the finesse of the CFOs of IndianOil, HPCL and BPCL, Business Today
writes, "PSU management is often taken for granted but it is in the face of
crisis that their indomitable will, skill and business acumen come to the fore
which is unmatched by the rest of the industry. The volatility in oil prices
over the past few years has been a nightmare for PSU refiners, putting much of
the onus of running a stable ship on their CFOs.
India's Best CFOs is a power listing compiled annually by the Business Today
magazine. This year's study, done in collaboration with Yes Bank, evaluates CFO
performance on a range of criteria specifically introduced to measure their
ability to manage the financial crisis. Parameters for evaluation included
successful management of financial crisis, best transformation agent and best
management of financial complexity with the chief aim of choosing the best CFOs
across different sectors whose efforts helped revive the country's economy in
the year 2009.
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| Updated on April 20, 2010 |
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