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MOTORINDIA
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January 2012
Top-level changes at Essar Oil
Essar Oil Ltd. (EOL), a subsidiary of Essar Energy
plc, has announced the appointment of Mr. Naresh Nay-
yar as Deputy Chairman and Mr. Lalit Kumar Gupta as
Managing Director and Chief Executive Officer of Es-
sar Oil.
Until now, Mr. Nayyar has held the dual role of Chief
Executive Officer of Essar Energy plc and Managing
Director & CEO of Essar Oil. Mr. Gupta’s appointment
allows Mr. Nayyar to relinquish his current role at Essar
men at the helm
Oil and to focus on his wider executive responsibilities
across the Essar Energy portfolio. These include the re-
fining, power, and exploration & production businesses.
He will remain on the board of Essar Oil as a Non-Ex-
ecutive Director.
With 31 years of experience, Mr. Gupta joins Essar
Oil from JSW Energy where he was the Chief Execu-
tive Officer and the Joint Managing Director. Prior to
this, he was associated with Mangalore Refinery & Pet-
rochemicals as Director - Finance.
Mr. Nayyar said: “Lalit Gupta’s appointment comes
at a key time for Essar Oil, where we are nearing com-
pletion of our phase one expansion at the Vadinar refin-
ery. The global refining scenario is increasingly becom-
ing more challenging. With his vast experience in the
energy sector in India, he would be able to create much
greater value for the stakeholders of Essar Energy.”
Mr. Gupta observed: “I am keenly looking forward
to my new role. Essar Oil is amongst the world’s lead-
ing refiners with a robust marketing business. I am ex-
cited about the challenge of taking Essar Oil to greater
heights.”
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Mr. Naresh Nayyar
Mr. Lalit Kumar Gupta
Joydeep Roy takes over as MD of
INA Bearings India
In what is being seen as a smooth change of guard, Mr. Joydeep Roy has
taken over as Managing Director at INA Bearings India, one of the leading
manufacturers of rolling bearings and linear products as well as a renowned
supplier to the automotive industry of high-precision products and systems for
engines, transmissions and chassis applications.
In addition to his current role as Managing Director of LuK India, his new
appointment heralds a fresh chapter for INA Bearings India.
Mr. Joydeep Roy, with his engineering qualification, has rich experience in
Indian and Asia Pacific region automotive markets. His areas of expertise in-
clude optimising manufacturing process, optimal resource utilisation, material
planning, and financial control. His strategy and ability to foresee the market
has helped LuK India to quickly adapt to changing customer needs.
His vision is to take INA and LuK India to greater heights through people,
processes, product, technology and performance.
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