Bharat Petroleum Corporation Limited (BPCL), one of India’s leading public sector oil and gas companies, has officially notified the stock exchanges about key changes in its senior management, effective July 14, 2025. The communication, submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the resignation of a senior executive and the appointment of two new leaders in critical operational divisions.

Akshay Wadhwa Resigns After 29 Years of Service

As per the official filing, Shri Akshay Wadhwa, who served as the Executive Director and Business Head (Gas), has tendered his resignation and has been formally relieved from duties effective end of day July 14, 2025. His resignation was received on June 14, 2025, and included a heartfelt letter of appreciation and reflection on his 29-year career at BPCL.

In his resignation letter addressed to the Director (HR) with additional charge of Director (Marketing), Shri Wadhwa expressed gratitude to the management, colleagues, and teams he worked with, citing a desire to explore opportunities beyond BPCL and ongoing personal matters as reasons for his departure. He also requested guidance on resigning from his nominee director positions at Sabarmati Gas Limited and Ujjwala Plus Foundation, which he held concurrently.

Leadership Transition Announced

Following the resignation, BPCL announced the new leadership structure for the Gas and Industrial & Commercial segments:

• Shri Rahul Tandon, who was the Business Head (Industrial & Commercial), has now been re-appointed as the Business Head (Gas), effective July 14, 2025.

• Shri Manoj Menon, previously Chief General Manager, Marketing (Industrial & Commercial), has been appointed as the Business Head (Industrial & Commercial), also effective the same day.

These appointments ensure continuity of leadership and demonstrate BPCL's intent to leverage internal talent and experience to drive forward its business goals.

Profiles of New Appointees

BPCL also disclosed brief professional backgrounds of the newly appointed officials in Annexure II of the official filing:

• Shri Rahul Tandon holds a B.E. in Civil Engineering and has completed an Executive Management Program from S. P. Jain Institute of Management. He has previously handled diverse roles in Retail, Gas, Corporate Strategy, and LPG.

• Shri Manoj Menon is a Postgraduate Diploma holder in Marketing from Bhavan's Rajendra Prasad Institute of Communication & Management, Mumbai. He also holds M.Sc. and B.Sc. degrees in Physics from Agra College. His career at BPCL includes key responsibilities in Industrial & Commercial, LPG, and Retail segments.

No Interpersonal Disclosures Required

As part of regulatory compliance, BPCL confirmed that the appointments do not involve any relationships between directors. These are standard changes and are not classified under related party transactions or involve any familial or personal connections.

SEBI Regulation and Exchange Compliance

BPCL made this disclosure in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The company submitted this information to both BSE and NSE under scrip codes 500547 and symbol BPCL, respectively. The detailed information, including the resignation letter and profiles of appointees, has been enclosed as Annexures I and II in the corporate filing dated July 15, 2025.

Smooth Transition Planned

The company noted that Shri Akshay Wadhwa has committed to a smooth transition and full cooperation with the management until his final day. His contribution over nearly three decades is recognized as significant, with the company acknowledging the experience, stability, and institutional knowledge he brought to BPCL's operations—especially in the evolving Gas segment.

BPCL has ensured that the leadership transition was immediate and effective, to avoid any disruption in business continuity or strategic execution. The internal elevation of Shri Tandon and Shri Menon reflects BPCL’s robust talent development and succession planning practices.

Strategic Importance of the Roles

The Gas division plays a key role in BPCL’s long-term energy diversification strategy, especially with India’s increasing focus on cleaner energy sources and city gas distribution. Meanwhile, the Industrial & Commercial vertical is integral to BPCL’s revenue generation and growth from non-retail clientele, making these leadership roles crucial in meeting corporate targets.

BPCL is focused on building future-ready leadership, enhancing operational agility, and ensuring strong governance at all levels. The appointments align with BPCL’s broader goals of expanding market share, digitization, and decarbonization.

About BPCL

Bharat Petroleum Corporation Limited (BPCL) is a Maharatna Public Sector Undertaking (PSU) under the Ministry of Petroleum & Natural Gas, Government of India. It is engaged in the refining and marketing of petroleum products, and is a key player in India’s energy sector, serving both retail and industrial customers.

BPCL is currently undergoing transformational initiatives aligned with the energy transition roadmap, and strategic reshuffles like this are part of the company’s ongoing evolution.

Conclusion

The resignation of Shri Akshay Wadhwa and the appointments of Shri Rahul Tandon and Shri Manoj Menon mark a notable transition in BPCL's senior management landscape. These changes are not only reflective of BPCL’s ability to promote from within but also its ongoing focus on strategic realignment of leadership in key operational sectors.

As BPCL continues its push toward modernization, sustainability, and profitability, the company is reinforcing its leadership pipeline with experienced professionals capable of guiding India’s energy future.

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