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Our Bureau

Kolkata June 18 Gulf Oil Corporation Ltd - a Hinduja group outfit - may witness changes in the top management position of its lubricants SBU (strategic business unit) in India.

According to sources, Mr N.C. Shekharan, Head- Lubes SBU, may soon vacate his office. While it is not known whether Mr Shekharan will be staying with the group, a few names of FMCG background are making the rounds as the probable head of the SBU.

When contacted Mr Shekharan neither confirmed nor denied the information. "I will not talk on this issue", he told Business Line. Responses were also not available from Mr Raj Shekhar, official spokesperson of the company, despite repeated efforts.

Mr Shekharan assumed the charge of domestic lubricants business of Gulf Oil from Mr V. Ramesh Rao in 2005. Mr Ramesh Rai is now the executive director with the company and focuses on international business.

The shares of Gulf Oil closed at Rs 1,174 on the BSE on Friday, marginally lower than the previous closing. The stock has posted over 34 per cent gain from Rs 870 during last one week.

Apart from lubricants the company has speciality chemicals and industrial explosives business. The company registered a net profit of Rs. 27.6 crore on a turnover of Rs. 668 crore during 2006-07.

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