Indian Oil Corporation Ltd. makes a corporate announcement

The latest two-person filing relates to Marketing and R&D—not Refineries or Pipelines.

• Shri Subrat Kar: Executive Director, Planning & Economic Studies, Marketing Head Office.
• Dr. Alex C. Pulikottil: Executive Director, Petrochemical & Catalyst, R&D Centre.

Both superannuated effective 31 October 2026. ^[1]

Succession disclosure: No interim-in-charge arrangement or permanent successor was named in the Regulation 30 filing. The notice only records the superannuation of the two senior-management personnel and is stated to be “for information and record.” ^[1]

A separate media report describes a broader effort to strengthen IndianOil’s leadership and succession framework, but it does not identify a role-specific replacement for either portfolio. ^[2]

The superannuation of Shri Subrat Kar and Dr. Alex C. Pulikottil on 31 October 2026 appears to be the latest step in a concentrated FY27 leadership-refresh cycle, rather than an isolated departure. Both were Executive Directors—Planning & Economic Studies and Petrochemical & Catalyst, respectively—and were classified in the filing as senior management personnel one level below the Board. ^{[1] [1]}

FY27 leadership-transition timeline

Thus, nine senior-management superannuations were disclosed from July through October 2026—three in July, two each in August, September and October; derived from the cited notices. ^{[4] [5] [6] [1]} The breadth of functions affected suggests a broad age- or tenure-linked personnel transition across IndianOil rather than a change concentrated in one business line. Successor or interim appointments could not be confirmed from these superannuation notices.

A contemporaneous Economic Times report also described IndianOil as strengthening its executive succession framework and building a larger pool of executives for future senior roles, alongside a proposed restructuring of certain director-level positions. That is third-party reporting based on people familiar with the matter, not a formal retirement calendar. ^[2]

Further retirements in the next two quarters

For the next two fiscal quarters—Q4 FY27 and Q1 FY28—the cited governance filings provide no forward-dated retirement schedule. Accordingly, further planned KMP retirements in that period could not be confirmed. The available disclosures are event notices issued around the effective retirement dates, not prospective succession disclosures.

One qualification: the filings use the term “Senior Management personnel” and specify that the individuals are one level below the Board; they do not, in the cited text, separately map each person to the formal KMP category. ^[1]

IOCL’s senior-management turnover is lower on an exit-count basis in the latest partial fiscal year, but a true turnover rate cannot be confirmed because the corresponding SMP headcount denominator is not reported in these disclosures.

Exit-count comparison

• FY25: 31 SMP exits, including superannuations and other cessations. This comprises 3 exits in April 2024, 7 in May, 2 in June, 7 in August, 1 in September, 4 in October, 4 in January 2025, 1 in February, 1 in March, and 1 cessation due to an external board appointment. ^{[7] [8] [8] [9] [10] [11] [12] [13] [14] [15] [16]}
• FY26: 23 exits, including 19 superannuations and four other cessations due to external appointments or demise. ^{[17] [18] [19] [20] [21] [22] [23] [24] [25] [26]}
• FY27 year-to-date through 31 October 2026: 9 exits—three in July, two in August, two in September and two in October. ^{[4] [5] [6] [1]}

The closest defensible full-year benchmark is therefore the FY25-FY26 average of 27 exits per year, derived from 31 and 23 exits. FY27’s 9 exits are below that annual average, but the comparison is not like-for-like because FY27 is only seven months complete. A three-fiscal-year historical average cannot be established from the cited records because FY24 is not covered by a comparable set of disclosures.

Succession-policy implication

IOCL’s annual report says the Board has approved a structured succession-planning framework designed to systematically develop successors for key positions other than Board members. ^[27] These Executive Director roles are part of the senior-management layer one level below the Board. ^[26]

The policy language does not specify a cooling-off period, nor does it mandate that a successor must assume the role immediately. The filings establish that the outgoing executive ceases service on the stated superannuation or cessation date; they do not establish the timing of the replacement or any mandatory handover period. Promotions can place officials into the SMP cadre, as shown by the January 2026 promotion disclosure, but that is evidence of internal succession movement rather than an explicit immediate-transition rule. ^[28]

Conclusion: the recent exit pace is lower than the available two-year historical average in absolute terms, but no percentage turnover rate can be calculated reliably. IOCL’s succession framework is systematic rather than prescriptive: it provides for successor development, with neither a mandated cooling-off period nor a universal immediate replacement requirement.