19 November 2012
Acclaimed industry veteran to support the organisation’s ambitious plans in energy and transport sectors
Lloyd’s Register has appointed RS Sharma, the former Chairman and Managing Director (CMD) of India’s high-profile Oil and Natural Gas Corporation (ONGC), as Chairman of Operations for South West Asia.
Sharma, whose appointment was effective from November 1, has joined Lloyd’s Register at a time when it is committed to double both its revenue and workforce in India by 2015.
“We are committed to growing our business in India -- organically and inorganically – to expand the independent technical support we can offer to the owners and operators of the critical assets that Indian society depends on. I feel a great sense of support having the experience of Mr Sharma to guide us in achieving our ambitious plans for South West Asia," said Richard Sadler, CEO of Lloyd’s Register.
During his 56-month tenure as CMD of ONGC, Sharma greatly improved the multinational’s operating performance, while emphasising the importance of ethical practices and strong corporate governance. This approach culminated in a wider international recognition for the state-owned ONGC – not least, in 2007, when it became the first Indian corporate to be listed as one of Fortune’s Most Admired Companies – and numerous personal and professional accolades for Sharma.
He said he was delighted to be associated with Lloyd’s Register, which was established in 1760 and has been operating in India since 1874.
“l feel privileged to be associated with an organisation like Lloyd's Register, which prides itself with more than 250 years of tradition,” Sharma said. “It has a highly value-based work culture and the organisation allocates a portion of its annual earnings surplus to the promotion of education, training, professional development and socially responsible activities. ‘Promoting the safety of life, property and the environment’ is its core business philosophy. Whilst LR has stated its ambition to double its business in the area, I believe we can achieve these targets and much more.”
Since its inception in 2004, The Lloyd’s Register Educational Trust has allocated £55 million to academic, educational and vocational institutions throughout the world to promote engineering and technology.
"Mr Sharma has a wealth of experience in the Indian market place and has a desire to work with organisations which genuinely deliver public benefits by helping to protect lives and the environment. I believe we will make an excellent partnership,” said John Rowley, President, Lloyd’s Register Asia.
Known for its origins as a marine classification society, today’s Lloyd’s Register has a diversified technical-service portfolio across four main business divisions: Marine, Energy, Management Systems and Transportation (mostly rail).
The energy division has been the primary focus of its recent acquisition activities; in the past four years Lloyd’s Register has spent £170 million acquiring offshore-drilling and risk-management specialists such as ModuSpec, Scandpower, WEST Engineering Services and India’s Reltech Consulting.