Nayara Energy appoints Prasad K Panicker as Chairman
Nayara Energy has announced that Mr. Prasad K Panicker, Director and Head of Refinery, will be taking over the responsibility of Chairman of the Company with effect from today, October 3, 2022.
Mr. Prasad K. Panicker will take on this role from Mr. Charles Anthony (Tony) Fountain, who previously led the company to establish highly effective corporate governance systems, enhance its external reputation, and place a strong executive team under the leadership of CEO Dr. Alois Virag.
Mr Fountain said, “I am deeply proud of what has been achieved at Nayara, and it has been a privilege to work with the Board in achieving this. Given the much-improved position of the company and after five years, now is the right time to hand on to a new leader to work with the management team and Board to deliver the next exciting phase for the Company”.
At the new stage of its growth journey, Nayara Energy will focus on the implementation of its asset development programme to transform itself into an integrated petrochemical producer, while continuing the implementation of its ESG initiatives.
In his new role, Mr. Panicker will deploy his technological experience and knowledge of the local Indian market to lead Nayara Energy through a new set of strategic priorities with a strong focus on development projects.
Mr. Panicker will also continue with his critical leadership role as Head of Refinery, which will support hands-on implementation of Nayara Energy’s development programme.