Mumbai: Hindustan Petroleum Corporation Limited (HPCL) has announced a key change in its senior leadership, appointing Sitaram G. Taparia as the new Chief Risk Officer (CRO), effective May 1, 2026.
The decision comes following the superannuation of Krushna Mahapatra, who previously served as Chief Risk Officer with additional charge of IFS.
Krushna Mahapatra Retires After Completing Service Tenure
Krushna Mahapatra has retired from his position upon reaching the age of superannuation. His tenure included overseeing risk management and related financial oversight functions at HPCL.
His exit marks the completion of a significant phase in the company’s risk governance leadership.
Sitaram G. Taparia Takes Over as New CRO
Sitaram G. Taparia has been appointed as the new Chief Risk Officer of HPCL.
He is a highly qualified finance professional with credentials including:
- B.Com
- Chartered Accountant (CA)
- Company Secretary (CS)
His strong academic and professional background is expected to strengthen HPCL’s risk management framework and financial oversight systems.
Strengthening Risk Governance and Compliance Framework
The appointment aligns with HPCL’s focus on maintaining strong corporate governance and robust risk management practices.
As Chief Risk Officer, Taparia will be responsible for:
- Identifying and managing corporate risks
- Strengthening compliance systems
- Enhancing financial and operational safeguards
- Supporting strategic decision-making
Smooth Leadership Transition in Senior Management
The transition has been made in compliance with SEBI (LODR) Regulations and reflects HPCL’s commitment to structured leadership succession.
The company expects continuity in its risk management operations while further strengthening governance standards under the new leadership.
About Hindustan Petroleum Corporation Limited (HPCL)
Hindustan Petroleum Corporation Limited is a Maharatna public sector enterprise under the Government of India, operating in the oil refining, marketing, and distribution sector. It plays a key role in ensuring India’s energy security through its extensive network of refineries, fuel stations, and distribution infrastructure across the country.
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