New Delhi: Rajneesh Narang is set to be the next Director (Finance) of Hindustan Petroleum Corporation Limited (HPCL), a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He has been recommended for the post by a Public Enterprises Selection Board (PESB) panel on Tuesday. Narang is currently serving as Executive Director (Corporate Finance) & Chief Financial Officer in the same Maharatna PSU.
Narang has been recommended for the post of Director (Finance) of HPCL from a list of nine candidates, who were interviewed by the selection panel. A total of three candidates including Narang were from HPCL, two candidates each from ONGC & Indian Oil and one each from MRPL and HLL Lifecare Ltd.
Narang is a Chartered Accountant and has held senior positions in the company and handled various areas of finance covering corporate finance, treasury, risk management, margin management, marketing finance, SBU commercial, refinery project etc. and has over three decades of experience.
HPCL is an Indian oil and natural gas company with its headquarters in Mumbai, Maharashtra. It has about 25 percent market share in India among Public Sector Undertakings (PSUs) and strong marketing infrastructure. ONGC, also the second promoter of the company (the first promotor is the President), owns 51.11 percent shares in HPCL and others are distributed amongst financial institutes, public and other investors.
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