U.S. Awasthi, the longest-serving CEO of a fertilizer company, has retired as the Managing Director of Indian Farmers Fertiliser Cooperative Limited (Iffco) after a three-decade stint. Awasthi, who turned 80, has been succeeded by K.J. Patel, who has taken charge as the new MD. Awasthi joined Iffco in 1976 as a chemical engineer and rose through the ranks to become the MD in 1993. During his tenure, he played a crucial role in shaping the company’s trajectory and elevating it to global prominence.
Under Awasthi’s leadership, Iffco expanded its global footprint through strategic investments in countries such as Senegal, Oman, Jordan, and the UAE. He also initiated diversification initiatives, including joint ventures like IFFCO-Tokio General Insurance Company, a collaboration with Japan’s Tokio Marine Group. Awasthi’s contributions to the company have been widely recognized, and he is credited with transforming Iffco into one of the largest fertilizer cooperatives in the world.
K.J. Patel, the new MD, has over 32 years of experience in the maintenance of nitrogenous and phosphatic fertilizer plants. He was previously the director-technical at Iffco and was heading the Iffco Paradeep Plant, the largest complex fertilizer plant in India. Patel’s appointment is seen as a significant development in the Indian fertilizer industry, which is highly controlled and regulated.
Awasthi’s retirement marks the end of an era at Iffco, and his legacy is expected to continue under the leadership of Patel. The company has expressed its gratitude to Awasthi for his contributions and wishes him well in his post-retirement life. As Iffco looks to the future, it is expected to continue its growth trajectory and expand its operations under the leadership of Patel. With its strong foundation and experienced leadership, Iffco is poised to remain a major player in the global fertilizer industry.