Nayara Energy has appointed Prasad K Panicker, director and head of refinery as chairman of the company with effect from October 3, 2022.
Panicker will take on this role from Charles Anthony Fountain, whose five years of service saw significant improvements in performance and financial position of the company. Despite challenges, Nayara Energy has developed a strategy for a phased expansion into petrochemicals. The first phase of that development plan, the expansion into polypropylene, will be delivered next year.
Fountain said, “I am proud of what has been achieved at Nayara. Now is the right time to hand on to a new leader to work with the management team.”
It will focus on implementation of its cutting-edge asset development program to transform itself into an integrated petrochemical producer, while continuing thoughtful implementation of its ESG initiatives, with strong impact on employees and local community well-being and environmental sustainability.
