Mr. B. Ashok
Mr. B. Ashok is Chairman of Indian Oil Corporation Ltd., India's largest commercial enterprise and the top Indian corporate in the prestigious Fortune ‘Global 500’ listing of the world’s largest companies, since July 2014.
Concurrently, he is also the Chairman of refining subsidiary Chennai Petroleum Corporation Ltd. and IOT Infrastructure & Energy Services Ltd., IndianOil’s joint venture with Oiltanking GmbH of Germany.
Mr. Ashok heads the Petroleum Federation of India, an apex society of entities in the hydrocarbon sector that acts as an industry interface with the Government and other regulatory bodies. He is currently the Chairman of CII's Council on CPSEs, a think-tank of central public sector enterprises, including Navratna and Maharatna companies. He is also the Vice-President of the Paris-based World LPG Association, the authoritative voice of the global LPG industry representing the full LPG value chain.
As head of India's flagship downstream company, Mr. Ashok is a strong votary of energy security for the nation and making petroleum products accessible and affordable in every nook and corner of the nation. His views and advice are sought in the policy formulation process and he has been a part of key delegations visiting foreign countries.
An alumnus of the College of Engineering, Madras University, Mr. Ashok majored in Mechanical Engineering. Later, he was selected for the prestigious National Management Programme and earned his PGDM from MDI-Gurgaon. Academically inclined, he has travelled extensively in India and abroad, participating at several prestigious forums.
With over three-and-a-half decades of experience in the oil & gas industry, Mr. Ashok has served IndianOil in various capacities, and in multiple disciplines. Beginning his career as a field officer, he steadily rose in the organisation, making his mark in every role assigned to him.
Besides his wide experience in the Corporation's Marketing Division, Mr. Ashok was also part of the core team that initiated Business Development activities at its Corporate Office for diversification and vertical integration. He also has considerable global exposure, having headed IndianOil's overseas business in Southeast Asia from Kuala Lumpur, Malaysia, and as a Board member of IndianOil's Sri Lanka subsidiary (Lanka IOC).
Mr. Ashok, a second generation IOCian, is proud of IndianOil's legacy of serving the nation consistently and continuously now for well over half a century. Under his leadership, this glorious tradition continues as IndianOil shapes up as a more responsive, nimble and forward-looking business entity – by leveraging technology across business units, countrywide infrastructure and retailing network which caters to millions of customers each day.
The Government of India is pursuing financial inclusion of the underprivileged at the "bottom of the pyramid" in a big way, and IndianOil has contributed passionately to the resounding success of social transformation schemes like PaHaL and GiveItUp. Under Mr. Ashok’s leadership, IndianOil is focussing on mainstreaming LPG as a cooking fuel in rural India through a novel programme that creates smokeless villages by extending LPG connections to all households in a village – a scheme that will benefit both individuals and the environment.
Mr. Ashok believes in financial prudence, operational excellence and continuous investment in people as the key to sustainability and profitability of business. Under his leadership, IndianOil earned its highest ever profit of Rs. 10,399 crore (USD 1.59 billion) for the year 2015-16.
An avid proponent of creating infrastructure and services well ahead of demand, Mr. Ashok has a penchant for preparedness at all times. This has translated into the setting up of a Strategic Planning group; ambitious forays into high-potential, high-profit new businesses of petrochemicals, natural gas marketing and exploration & production; and IndianOil transforming into a world-class technology provider offering novel refining processes.
Among IOCians, Mr. Ashok is well known for his transformative and people-centric leadership style, which energises entire teams to perform and deliver results through positive engagement and a shared vision. An ardent champion of IndianOil’s core values – Care Innovation Passion & Trust – he regularly invokes them and urges IOCians to internalise them in their daily routine. It is under his inspiration that the year 2016 is being observed as the Year of Core Values across the organisation.
A voracious reader of books, Mr. Ashok is also fond of music and keenly follows sports.