Sivakumar took over as the finance chief in May and had about two years left in his retirement but chose to resign on health grounds, according to multiple people familiar with the matter.
It’s unusual for a director of a state firm to quit just a few months after taking over. Directors in large state firms are usually appointed by the government for a period of five years or till their retirement. The government will soon start a process to hire Sivakumar’s replacement.
Sivakumar has been with BPCL since 1987 and taken various roles in finance, internal audit and secretarial functions.
Sivakumar didn’t respond to ET’s phone call or text messages for a comment.
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