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Nayara Energy appoints Dr. Alois Virag as Chief Executive Officer

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Nayara Energy appoints Dr. Alois Virag as its new Chief Executive Officer (CEO) w.e.f. April 1, 2021. He will be taking up the role of the incumbent CEO B. Anand, who will take up the role of the President of the company from April 1, 2021. Both Dr. Virag and B. Anand will be reporting to the Board of Directors.

Dr. Virag brings over three decades of industry experience n refining and petrochemicals to the company. Before joining Nayara, Dr. Virag was the Senior Vice President – Downstream for the Middle East and Asia at OMV, an Austrian Multinational integrated oil and gas company headquartered in Vienna. He is an Executive MBA from Harvard Business School and a Doctorate from Vienna Institute of Technology. Dr. Virag also holds an engineering degree in Technical Chemistry from the Vienna Institute of Technology. He also conducted post-doctoral research at St. Louis, Washington University.

Speaking on the new appointment of Dr. Alois Virag, Tony FountainExecutive Chairman of Nayara Energy said, “Alois has an enviable track record spanning developed and emerging markets across the downstream value chain. His expertise in leading numerous and complex capital projects, turnarounds, digitalization initiatives along with prior experience in fuel marketing and retail make him a great fit for steering Nayara Energy’s growth plans. I would like to thank Anand for guiding the company through its post-acquisition transformation journey and laying a strong foundation to translate our vision to strengthen India’s energy security. Anand will now be taking up a critical, strategic role to help the company navigate the transforming business environment while building our reputation and enabling key-value unlocks that support our performance, growth, and transition”.

Further, Dr. Virag added, “India is the most attractive growth market in the world. Backed by strong shareholders, Nayara is a key player in India, providing the energy to fuel economic growth and wealth building in the country. The team at Nayara consists of outstanding leaders, industry experts, and a highly-skilled workforce, continuously and successfully growing its business, with high ambitions and great potential for more. I am pleased to be a part of Nayara which is determined to provide the energy to make the dreams of millions come true.”

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