Arvindar Singh Sahney, currently an Executive Director at Indian Oil Corporation Limited (IOCL), has been appointed as the new Chairman of the oil major, according to an order issued by the ministry of petroleum and natural gas.

The Appointments Committee of the Cabinet (ACC) approved Sahney’s appointment for a five-year term or until his superannuation, whichever is earlier. “The Appointments Committee of the Cabinet (ACC) has approved the proposal of this ministry for the appointment of Shri Arvindar Singh Sahney, Executive Director, IOC, to the post of Chairman, IOC, for a period of five years with effect from the date of his assumption of charge of the post, or till the date of his superannuation, or until further orders, whichever is the earliest,” the ministry of petroleum and natural gas said in a statement.