Cham, Switzerland, 14 September 2021 – VARO Energy, a leading energy company active in Europe, today announced that Dev Sanyal has been appointed as its new Chief Executive Officer (CEO), effective from 1 January 2022.
VARO’s vision is to make sustainable energy accessible and affordable to keep people, societies and the world in motion. Carlyle and Vitol, VARO’s shareholders, share this vision and have the ambition to be a leader in the supply of lower carbon energy solutions to accelerate the energy transition. The appointment of Mr. Sanyal, a proven and experienced business leader with a strong background in finance, business development and an expert in renewable energy, is testament to this.
Mr. Sanyal will oversee the company’s next chapter of growth, as VARO evolves its business in the context of the energy transition, leveraging its asset base to capitalise on opportunities in renewable energy, from its existing biofuel business to hydrogen and decarbonisation initiatives, among other energy solutions VARO is actively driving.
With over 30 years’ experience in the energy sector, Mr. Sanyal is well placed to lead this new phase. Since 2016 he has been Chief Executive, Alternative Energy at bp and has also led bp’s Gas and Low Carbon business globally. During this period, he has led bp’s pivot in low carbon energy with the creation of Europe’s largest solar company, Lightsourcebp; the world’s second largest sustainable bioenergy company, bpBunge; market entry in the world-scale offshore wind markets of the US and UK; establishment of new blue and green hydrogen businesses and integrated gas and power opportunities in key growth markets of Brazil, India and China. He joined bp’s executive team in 2011 as Executive Vice President, Strategy and Regions and prior to this held a range of senior leadership positions around the world.
Marcel van Poecke, Chairman of VARO and Managing Director and Head of Carlyle International Energy Partners, said: “Dev’s background and expertise in renewables is the perfect fit in taking the company forward. Carlyle recently increased its investment in VARO because we see huge value in VARO as a platform for the energy transition. Appointing Dev as CEO is an important next step in that journey. Dev's experience will be invaluable as he and the team at VARO transform the company into a European energy transition leader. I would also like to thank Roger Brown for his contribution and leadership over the past six years.”
Russell Hardy, Supervisory Board member of VARO and CEO, Vitol, said: “Dev has hands on experience of repositioning a business in the context of the energy transition. We are delighted he is joining VARO and believe his track record and deep understanding of the complexities associated with the energy transition will enable VARO to capitalize on the opportunities ahead.”
Commenting on his appointment, Mr. Sanyal said: “I am honoured to have been asked to lead VARO at this pivotal time. I look forward to accelerating the development of our renewable products business and taking advantage of the wealth of opportunities presented by the energy transition. We have an excellent starting point with our outstanding infrastructure and logistics combined with a track record of technology, innovation and entrepreneurship. The journey to date and the ambition shown by VARO and its world class shareholders is incredibly compelling and I am excited by the company’s potential in a lower carbon future.”
VARO COO Julian Stoll has been appointed as the Interim Chief Executive Officer for VARO until Mr. Sanyal’s arrival.
About VARO Energy
VARO Energy (“VARO”) is an energy company operating throughout the complete downstream fuel supply chain with refining, storage, blending, distribution, sales and marketing assets. It safely delivers high-quality fuels from fossil and renewable sources to its national and international business customers and end-consumers.
The company owns a refinery in Cressier, Switzerland, a majority share in the Bayernoil refinery, Southern Germany, as well as storage facilities, distribution and marketing businesses in Benelux, France, Germany and Switzerland. VARO Energy also owns a 51% stake in SilviCarbon, a global leader in nature-based Carbon Dioxide Removals (CDRs)
For more information about VARO, please visit www.varoenergy.com.
About The Carlyle Group
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $276 billion of assets under management as of June 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,800 people in 27 offices across five continents. Further information is available at carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7 million barrels per day of crude oil and products, and charters around 6,650 ship voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 16 m m3 of storage globally, 500 k b/d of refining capacity, 7,000 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2020 were $140 billion.
About Dev Sanyal
- Executive vice president, Gas & Low Carbon Energy, (2019 to 2021)
- Chief Executive, Alternative Energy & Executive Vice President, Asia and Europe, (2015 to 2019)
- Executive Vice President, Strategy and Regions, (2011 to 2015)
- Group Treasurer and Chairman, BP Investment Management Ltd, (2007 to 2011)
- Head of the Group Chief Executive’s Office (2006 to 2007)
- Chief Executive, Air BP International (2003 to 2006)
- Chief Executive, BP Eastern Mediterranean (1999 to 2003)
- Various commercial and operational roles (1989 to 1999)
- Non-Executive Director, Member of the Audit and Risk Committee (2013 to present)
The Fletcher School at Tufts University
- Board of Overseers (2015 to present)
Government of India
- Energy Advisory Board (2017 to present)
Centre for European Reform
- Advisory Board (2015 to present)
Change the Race Ratio
- Ambassador (2021 to present)
- Vice Chairman, Centre for China in the World Economy (2014 to 2019)
- Global Energy Board (2012 to 2018)
The Duke of Edinburgh's International Award Foundation
- Member, International Business Leaders Group (2012 to 2015)
The UK Career Academy Foundation
- Trustee (2007 to 2013)