New Delhi, July 2, 2024 – Oil and Natural Gas Corporation (ONGC) has appointed Vivek Chandrakant Tongaonkar as its new Director (Finance), effective immediately.
*A Seasoned Professional*
Tongaonkar brings over 37 years of experience in the energy industry, with a proven track record in financial and managerial leadership. His expertise includes transforming financial strategies, enhancing financial health, and improving market standing.
*Previous Roles*
Before joining ONGC, Tongaonkar served as Director (Finance) & CFO at Mangalore Refinery & Petrochemicals Limited (MRPL), where he achieved significant milestones, including:
– Preemptive repayment of high-interest term loans
– Deleveraging and improving debt-equity ratio
– Proactive engagement with investors, resulting in a 477% increase in market capitalization
*Leadership and Expertise*
Tongaonkar has also held various leadership positions within the ONGC Group, including Executive Director – Chief Corporate Finance and CFO. His strategic initiatives have resulted in substantial cost savings and ensured continuity of finance operations during the COVID-19 pandemic.
*Looking Ahead*
ONGC is poised for continued growth and success under Tongaonkar’s leadership, driving financial excellence and contributing to the organization’s continued growth and success.