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Essar Oil appoints Virendra Singh Jain as Independent Director

NEW DELHI: Essar Oil Ltd today said it has appointed Virendra Singh Jain, former Chairman of SAIL, as an independent director on the company board. 

"With an experience of over three decades at the helm of public and private sector enterprises, including two Maharatnas, his wide ranging experience and financial expertise will greatly enrich Essar Oil's board," 
Essar OilBSE -0.31 % Managing Director & CEO L K Gupta said. 

Jain, a fellow member of the Institute of
Chartered Accountants of India and Institute of Cost Accountant of India, previously was Chairman of steel maker SAILBSE 0.08 % as also member of the government headhunter Public Enterprises Selection Board (PESB). 

"With Jain's appointment, Essar Oil's board strength increases to 12, including six independent directors," the company said in a statement here. 

Jain had worked with state refiner Indian Oil Corp ( 
IOCBSE 1.43 %) for 26 years before becoming Director ( Finance) at SAIL and then the Chairman of the steel maker till his retirement in 2006. 

After retirement, he served the 
Jindal Group as Managing Director and CEO of Jindal Stainless Ltd.