Vivek Chandrakant Tongaonkar appointed as ONGC’s New Director (Finance) and CFO

New Delhi: The ONGC Board of Directors at its meeting held today on 02.07.2024, has considered and approved the appointment of Shri Vivek Chandrakant Tongaonkar as Director (Finance) of the Company in a letter dated 01.07.2024 issued by Ministry of Petroleum and Natural Gas, Government of India.

Further, the Board of Directors has also designated Shri Tongaonkar as Chief Financial Officer of the Company with effect from 02.07.2024 in place of Shri Devendra Kumar.

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Brief profile of Shri Tongaonkar and other details

Shri Vivek Chandrakant Tongaonkar is appointed as Director (Finance) with effect from 02.07.2024 till the date of his superannuation i.e. 30.04.2026, or until further orders, whichever is earlier.

Shri Tongaonkar has also been appointed as Chief Financial Officer with effect from 02.07.2024.

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Shri Vivek Chandrakant Tongaonkar (DIN: 10143854), aged 58 years took charge as Director Finance & CFO of Oil & Natural Gas Corporation Limited (ONGC/ the Company) on 02.07.2024. An engineering graduate from the College of Engineering, Pune, he started his career as an Assistant Executive Engineer (Electrical) in the Company in March 1987 and worked in the Engineering & Construction Division during the first decade of his career. He gained rich technical experience of offshore facilities. Subsequently, he completed MBA (Finance) program in the Symbiosis Institute of Business Management, Pune and laterally shifted to the Finance discipline in ONGC.

Shri Tongaonkar is an industry veteran with over 37 years of professional experience in diverse activities across the Energy value-chain. He grew up along the hierarchy and served in different capacities in ONGC with extensive experience in Accounts, Audit, Budget, Treasury & Investments, Capital Investments, Commercial & Marketing, Taxation, JV Finance and Strategy.

He was the Head of Investors Relation Cell of ONGC. He held the position of CFO, ONGC, from April 2021 to December 2021.

Prior to his appointment as Director (Finance) of the Company, Shri Tongaonkar was Director Finance & CFO of MRPL during 02.05.2023 to 01.07 2024. Under his leadership as Director & CFO of MRPL, MRPL pre-paid high interest term loans of Rs 3,183Cr, which will eventually save interest cost to the tune of ?200 crore annually.

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