Virendra Singh Jain has been appointed as an independent director of Essar Oil. With an experience of over three decades at the helm of public and private sector enterprises, including two Maha¡ratnas, his wide ranging experience and financial expertise will greatly enrich Essar Oil’s board, the Essar Oil MD & CEO LK Gupta feels.
Jain is a fellow member of the Institute of Chartered Accountants of India and Institute of Cost Accountant of India. He retired from SAIL as the Chairman in 2006, having joined the Maharatna as Director – Finance. Prior to that, he worked with Indian Oil Corporation for 26 years, where he was responsible for international negotiations for procurement of crude and petroleum products and implementation of financial strategies and financial appraisal of projects. After retirement, he served the Jindal Group as Managing Director and CEO of Jindal Stainless. He also held the post of Member of the Public Enterprises Selection Board for over three years till July 2011. Jain finds place in a coveted list of Best-performing 100 global CEOs spanning a period of 17 years (1995-2011) drawn by Harvard Business Review.
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