Deepesh Baxi was named the new Chief Financial Officer (CFO) of Nayara Energy, the largest private gasoline retailer in India, on Friday.
“With an impressive career spanning over three decades, Deepesh brings extensive experience in finance, strategy and M&A, having worked on complex mandates across key sectors such as oil and gas, infrastructure and construction, retail and manufacturing,” it said in a statement.
He served as Castrol India Limited’s Chief Financial Officer and Full-Time Director before joining Nayara Energy. Additionally, he has held leadership positions in sizable, culturally diverse teams in both Asia Pacific and worldwide locations, working with industry titans like British Petroleum (BP) and Andersen.
Baxi, a graduate of IIM Ahmedabad, a chartered accountant, and a Certified Internal Auditor (USA), will oversee Nayara’s financial operations and strategy, fostering the company’s ongoing expansion and energy sector contribution.
According to the statement, his expertise includes risk management, corporate governance, investor relations, treasury, internal audits and compliance, and long-term strategy and transformation.
“Deepesh brings with him deep sectoral expertise and a strong blend of financial planning and strategic acumen. His wealth of experience and proven track record will be instrumental in driving financial excellence and supporting our strategic vision of delivering industry-leading performance. With Deepesh on board, we are confident of building stronger and scaling bigger.” said Alessandro des Dorides, Chief Executive Officer at Nayara Energy.
With a capacity of 20 million tonnes annually, the Vadinar oil refinery is the second-largest single-site refinery in India. Nayara also has more than 6,500 gas stations around the nation. It recently opened a 450,000-ton polypropylene factory as part of its entry into the petrochemical industry.
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