Our Board of Directors

Prashant Ruia - Director and Non - Executive Chairman

Prashant is part of the second generation of the Ruia family that founded Essar. Essar was founded in 1969 by his father, Shashi Ruia and uncle Ravi Ruia. Prashant has been an integral part of EGFL’s operations and management since 1985 and has been a key driver of the Fund’s growth, diversification and value creation both within India and internationally. He is respected for his project execution skills, financial expertise and people management capabilities.

Prashant holds key positions on several prestigious regulatory and professional boards.  He is a member of the UK India Business Council and a member of the India-Indonesia CEO’s Forum.


Rewant Ruia - Director

Rewant is a member of the Ruia Family which is the founding family of Essar. His global exposure, fresh perspectives and arc of activities has contributed to Essar’s strategy and operations in the mining, steel and retail sectors both in India and abroad. He completed his MBA from Stanford Graduate School of Business in 2013.

Frequently traveling between the New York, London and Mumbai, he currently helps drive the strategy of the Group’s Oil and Gas Business in UK and Metals & Mining operations in United States and Canada. He was part of the asset acquisition team that helped forge strategic integration across the raw material to steel value spectrum and now assists the management teams in maximizing the value of their business. He also spearheaded Essar’s entry into emerging modern retail.

Rewant also concentrates on evolving the organizational design for Essar’s next phase of growth. He likes building relationships, working with teams and operational efficiency. Therefore, he focuses on streamlining work flows, people systems and processes through the use of planning and technology.


Stein Ivar Bye - Chief Executive Officer

Stein Ivar Bye has over 28 years’ experience in the Oil and Energy sector, working internationally with responsibilities across Europe, Africa, the Middle East and Asia. He graduated from the Norwegian University of Science and Technology (NTNU) and has an MBA in Business Strategy and Management from BI Norwegian Business School. Having previously spent 25 years with ExxonMobil, he was latterly Chief Operating Officer at Sweden’s largest fuel company, Preem.

Stein is an experienced executive leader in multicultural and international environments and has an impressive track record in refinery operations, coupled with broad experience in supply and trading, strategy and planning and business development.


S. Thangapandian - Director

S. Thangapandian was previously Group Director at Gulf Petrochem and is an oil and gas professional with around 35 years of experience in sales, marketing and trading of petroleum products in India, the Middle East and Nigeria with PSU, MNCs and private sector companies in India and abroad. Mr Thangapandian has previously worked at Essar Oil Limited as CEO – Marketing & IST where his responsibilities included, Retail Sales, Direct Sales, Retail Network Expansion, Sourcing Crude, Trading of Petroleum Products and Supply & Distribution for the company in India and Kenya.

During his career he also established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market. Having started his career with HPCL, he has also worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India. Mr Thangapandian was Chief Executive Officer at Essar Oil UK from March 2017 to January 2020.


Kuthoore Natarajan Venkatasubramanian - Independent Non-Executive Director

Mr. K. N. Venkatasubramanian was appointed to the Board of Directors of Essar Oil, India, on November 29, 2000. He has over 51 years of experience in the oil & gas and petrochemicals sectors having worked for IPCL, IOCL and Gulf Oil Limited.

He has previously served as Director, Marketing and Director, Operations of IPCL, Chairman and Managing Director of Engineers India Ltd., Chairman and Managing Director of Indian Oil and as Chairman of Gulf Oil Ltd. He is currently Chairman of Times Technoplast Ltd. He is a Chemical Engineer from A.C. College of Technology, Chennai and an M.Tech from IIT, Kharagpur.


Bhuwan Chandra Tripathi - Non-Executive Director

Bhuwan Chandra Tripathi has over 36 years of experience in the Oil & Gas sector including board level experience of more than 12 years with 10 years as Chairman and Managing Director of GAIL (India) Limited.

He has previously served as Chairman for Brahmaputra Cracker & Polymer Ltd, Member Board of Directors for Petronet LNG Limited, Chairman of the Board for Mahanagar Gas Limited, Chairman of the Board for Indraprastha Gas Limited and Director for Gail Global Singapore PTE Limited. Bhuwan received his Bachelor of Engineering (B.E.) in Mechanical Engineering from Motilal Nehru National Institute of Technology.


Stephen Welch - Independent Non-Executive Director

Stephen Welch has over 25 years’ experience in financial services and infrastructure investment, and acts as an independent lender representative on the Board of Essar Oil UK. His focus is on strengthening Board and Audit governance drawing upon his experience as the Chair or CEO of regulated businesses.

He qualified as a chartered accountant with KPMG Sydney and was a partner at McGrathNicol and senior managing director with FTI Consulting.