Indian refiner Nayara Energy appoints Prasad K Panicker as chairman

Nayara Energy on Saturday announced the appointment of Prasad K Panicker, the director and head of refinery, as its chairman, effective October 3.

Panicker will succeed Charles Anthony (Tony) Fountain, whose five years of service have been landmarked by significant improvements in the level of performance and financial position of the company. Despite a challenging external environment, Nayara Energy said it has developed an articulated strategy for a phased expansion into petrochemicals. The first phase of that development plan, the expansion into polypropylene, will be delivered next year.