Sector News

Canadian oil patch veteran Mayank Ashar named chief of Cairn India

October 23, 2014
News
A Canadian oil patch veteran is the new chief of one of India’s largest independent oil companies. Cairn India Ltd. announced Tuesday that it had hired Mayank Ashar as the company’s new managing director and CEO.
 
Mr. Ashar is a long-time Canadian oil patch executive and has held senior positions with BP, Petro-Canada, Suncor Energy Inc. and, most recently, New Brunswick-based Irving Oil Ltd., where he was president and CEO.
 
Cairn had been on the hunt for a new CEO since former interim chief P Elango resigned in May of this year. Mr. Ashar’s appointment to the company’s top job is subject to board and shareholder approvals – though the company is controlled by Vedanta Resources.
 
Vedanta’s deputy chairman Navin Agarwal is also Cairn India’s chairman and gave Mr. Ashar an endorsement when announcing the Canadian’s appointment, citing Mr. Ashar’s “strong track record” of building value at the companies where he has worked.
 
By Geoffrey Morgan
 

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

When I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon enough I realized […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

Firm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing abound), but we […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

The Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which sells a range […]