N G Kannan, director (marketing), Indian Oil Corporation, has taken over as the managing director of petro-retailer IBP Co Ltd.
He will hold the new charge in addition to his current responsibilities as director (marketing), IOC, a company press release said in New Delhi.
Arun Jyoti, Kannan's predecessor at IBP, retired on Friday.
IBP is a subsidiary of IOC and the country's largest petroleum refiner plans to merge the stand-alone petro retailer with itself this fiscal.
A doctorate in human resource management, Kannan has over 34 years of experience at IOC, having worked across several downstream sectors of the petroleum industry.
Kannan also holds the responsibility as the chairman of IndianOil Mauritius Ltd, a wholly owned subsidiary of IOC in Mauritius. The Mauritian subsidiary, launched on April 22, would pursue retail, bulk, aviation fuel and lubricant business in the island nation.
He is also the chairman of IndianOil Petronas Pvt Ltd, which is a joint venture between IOC and Petronas of Malaysia for LPG import, storage and marketing.
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