Deepesh Baxi has been appointed as the new Chief Financial Officer (CFO) of Nayara Energy, India’s largest private fuel retailer. With a distinguished career spanning over three decades, Baxi brings extensive expertise in finance, strategy, and mergers & acquisitions. His leadership will play a crucial role in strengthening Nayara Energy’s financial framework and supporting its long-term strategic vision.
Prior to joining Nayara Energy, Baxi served as Chief Financial Officer and Wholetime Director at Castrol India Limited, a multinational corporation with a turnover exceeding ₹5,000 crores. He also held various leadership positions at British Petroleum (BP), including Global Financial Controller, Head of Strategy for Asia Pacific, and roles in business restructuring and transformation. His tenure at bp saw him managing large-scale financial operations across 40 countries, contributing to a business turnover of over $10 billion.
A Chartered Accountant and Certified Internal Auditor (USA), Baxi is also an alumnus of the prestigious Indian Institute of Management (IIM) Ahmedabad. His deep sectoral expertise, combined with a strong foundation in financial planning, investor relations, treasury, corporate governance, and risk management, positions him as a valuable addition to Nayara Energy’s leadership team.
Commenting on the appointment, Alessandro des Dorides, Chief Executive Officer at Nayara Energy, stated, “Deepesh brings with him a strong blend of financial acumen and strategic insight. His wealth of experience and proven track record will be instrumental in driving financial excellence and advancing Nayara Energy’s ambitious growth plans. With Deepesh on board, we are confident in our ability to scale new heights.”
Nayara Energy operates the Vadinar oil refinery, India’s second-largest single-site refinery with a capacity of 20 million tonnes per annum. The company also has a vast retail network of over 6,500 petrol pumps across the country and recently ventured into the petrochemicals sector with a 450,000-tonne polypropylene plant. Under Baxi’s financial leadership, Nayara Energy aims to further strengthen its position in the energy sector while driving innovation and sustainable growth.