Essar Oil UK appoints Mark Palios as non-executive director

New Delhi: Essar Oil (UK) Ltd, which owns and operates UK’s Stanlow Refinery, on Monday announced the appointment of Mark Palios, chairman and co-owner of Tranmere Rovers FC, as an independent non-executive board director, effective from 5 October.

“The appointment of the well-known North West-based businessman comes at a key juncture for Essar as it delivers on its investment plans of transitioning to become the UK’s first low carbon energy provider,” the company said in a statement.

Palioshas co-owned Tranmere Rovers with his wife Nicola Palios since 2014 and brings over 40 years of commercial and senior leadership experience to Essar.

Palios started his career as a professional footballer, playing for notable North West teams including Tranmere Rovers and Crewe Alexandra. After retiring from the professional game in 1986, he went on to have a distinguished career in business as a chartered accountant with Arthur Young and latterly as a senior partner at PwC, specialising in business turnaround. In 2003, he was appointed as chief executive of the Football Association, carving out a specialism and expertise in business and sports governance. He has extensive non-executive and executive board experience, sitting on the boards of a number of organisations and businesses.

“The appointment by Essar marks another step in strengthening its corporate governance framework. Essar is committed to operating the highest level of governance standards across its business and committed last year to the Wates Principles – the corporate governance framework for large privately-owned businesses in the UK,” it said.

Palios’s addition to the board follows Essar’s appointment of Tim Bullock as an independent non-executive director in June 2021.

As well as supporting the board and business in corporate governance and community relations, Palios will support Essar’s continued commercial growth strategy and its long-term decarbonisation and energy transition plans.

Essar’s executive board members include CEO Deepak Maheshwari and director S Thangapandian. Non-executive board members are Kuthoore Natarajan Venkatasubramanian, Tim Bullock, Andrew Wright, and Mark Palios.

The board is chaired by Prashant Ruia as non-executive chair.

“We would like to welcome Mark to Essar Oil UK’s Board. He brings over 40 years’ commercial experience combined with an invaluable connection to our local community. As Chairman of Tranmere Rovers, we have got to know Mark and worked with him in supporting the activities of this leading community club. We are committed to upholding the highest standards of corporate governance, and this appointment forms a central part of that,” said Ruia.

“I am delighted to join Essar’s Board. This is an exciting time in the company’s continued growth plans, as it delivers on its commitment for transforming for tomorrow by becoming a leader in the energy transition,” said Mark Palios, Non-Executive Director of Essar Oil UK and Chairman of Tranmere Rovers FC.

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