(May 14, 2014) - Gulf Petrochem announced that its board of directors has appointed Thangapandian Srinivasalu as executive director for the group and member of the board of directors effective immediately. Thangapandian had previously held the position of CEO for marketing and IST at Essar Oil Limited.
“During this time of transition into emerging markets and diversification of our business in the downstream and midstream sector, there is no one more qualified to help drive organic growth and identify like-minded partners that will broaden our facilities, capabilities and services we offer customers” said Ashok Goel, board chairman at Gulf Petrochem. “Thangapandian joins our family-owned business with the same values that puts a priority on people, and his vision for a modern, innovative and globalized oil company is what will keep Gulf Petrochem at the forefront of its industry.”
In his previous role Thangapandian assumed overall responsibility of crude procurement for the 20 MMTA (million metric ton per annum) Essar refinery in India. He also established an Essar marketing network of more than 1,400 operational retail outlets and helped consolidate Essar’s position as the largest private sector network in the country in his responsibility to market the 20 MMTPA products from the refinery.
Joining Gulf Petrochem, Thangapandian will be driving the company’s growth into new territories that includes Far East, East Africa and consolidation in the Gulf and Indian subcontinent. The growth will come from mergers and acquisitions and organic growth, especially in the local UAE and Indian markets where Gulf Petrochem has a leading position.
“Gulf Petrochem has grown exponentially since 1993 when Ashok and Sudhir (Goyel) began trading petrochemical products in India. Today it is a 2 billion dollar business with two refineries in the UAE, a terminal in Fujairah and presence in six other markets. With a remit to continue its growth strategy at the same rate, the opportunity to help develop an already brilliant and unique business was an opportunity I had to seize.”
In managing the growth Thangapandian will also be responsible for uniting the six Gulf Petrochem divisions (in refining, storage terminals, trading & bunkering, bitumen and grease manufacturing and shipping and logistics) under a single system that will optimize business processes and enable trading across borders and departments.
He joins Ashok Goel, chariman, Sudhir Goyel, managing director, and group directors Manan Goel and Prerit Goel on the Gulf Petrochem board.