Vikas Kaushal Appointed CMD of HPCL, First Private Sector Executive To Lead An Oil PSU

Vikas Kaushal has been appointed as the Chairman and Managing Director (CMD) of Hindustan Petroleum Corporation Limited (HPCL), with effect from March 07, 2025.

Kaushal’s appointment as CMD of HPCL marks a historic shift in India’s oil sector. For the first time, a private-sector executive has been chosen to lead a state-run oil company, reflecting a broader push to bring in external expertise to drive efficiency and innovation.

At 53, Kaushal brings a wealth of experience to the role. A chemical engineer from Panjab University with an MBA from IIM Ahmedabad, he has spent years advising major oil and gas PSUs, including Indian Oil, Bharat Petroleum, and GAIL. Before this, he was the global leader for energy and process industries at Kearney and also served as the Managing Director and Country Head for Kearney India. His previous work with HPCL included setting up a centralized procurement office and leading its petrochemical diversification strategy.

His appointment follows the retirement of Pushp Kumar Joshi in August 2024. The Public Enterprises Selection Board (PESB) had interviewed multiple candidates but didn’t find the right fit, leading to a search-cum-selection process that brought Kaushal into the picture. His selection signals a break from the traditional practice of promoting executives from within PSUs.