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PSU Press Release: S Varadarajan appointed as BPCL's Chairman and Managing Director

S Varadarajan, Director (Finance) has taken over as CMD of BPCLBSE 1.46 % from Oct 1.

Varadarajan, is a member of the Institute ofChartered Accountants of India and a member of the Institute of Cost and Works Accountants of India.

Prior to his appointment as Director (Finance) he was Executive Director (Corporate Finance) and was responsible for overall Treasury Management, Risk Management, Corporate Accounts, Taxationand Budgeting. A number of new initiatives like electronic payments and collections systems, corporate risk charter and risk governance structure, key finance process automation in SAP, etc., was undertaken under his leadership.

He has participated in several international conferences and road shows and constantly interacts with the investor and analysts' community. In 2009, he led a team of 20 professionals which put in place a value mindset across the organization and created competitive cost structures.

In addition to finance he has handled marketing as head of sales for retail business in southern region and also led the corporate strategy team. Prior to that, he was the CFO of Bharat Shell Limited, a joint venture between BPCL and Shell International.

As Director (Finance) he was responsible for the successful completion of BPCL's maiden issue of unsecured bonds in the international market. The issue which was placed at a very fine rate of interest was over-subscribed by 15 times - the largest for an offering by an Indian company in 2012.

Varadarajan is the Chairman of Petronet India Limited and Petronet CCK Limited. He is a Director on the Board of Bharat Oman Refineries Limited, a joint venture company promoted by BPCL and Oman Oil Company. He is also Director on the Board of Bharat PetroResources Limited , Bharat Star Services Pvt. Ltd., and Bharat Star Services (Delhi) Pvt Ltd.