New Delhi: T Saminathan is set to be the next Chairman & Managing Director (CMD) of KIOCL Limited, a PSU under the Ministry of Steel. He has been recommended for the post by the Public Enterprises Selection Board (PESB) panel on Wednesday. He is currently serving as Director (Commercial) in the same Miniratna PSU. Earlier, MV Subba Rao was serving as CMD of KIOCL, who superannuates on Wednesday. According to the official spokesperson, the additional charge of the CMD post has been assigned to Swapan Kumar Gorai, who is currently serving as Director (Finance) of the company.
Saminathan has been recommended for the post of CMD of KIOCL from a list of three candidates, who were interviewed by the selection panel. Two other candidates were from Steel Authority of India Ltd (SAIL) and Hindustan Shipyard Limited (HSL).
Saminathan is an engineering graduate (Mechanical Engineering) and also completed a post-graduate diploma in Business Management. He has three decades of experience in KIOCL Ltd in iron ore mining, beneficiation, palletization and pig iron making since joining in the year 1986 as a Graduate Engineer. During the initial period, he served in the Kudremukh mine beneficiation plant and later moved to Corporate Office, Technical Services Department, Bangalore in 1992 and executed projects viz: Crusher III installation, Relocation of Crusher I and installation of additional ball mills.
Prior to assuming charge as Director (Commercial), he was General Manager (Materials) heading both the Materials & Commercial divisions. He is instrumental in bringing the tolling concept which has resulted in increased Capacity utilization of the Pellet Plant. He is also put in system improvement in supply chain and logistics which has resulted in reduced transit and handing losses of iron ore fines, brought down inventory holding level, framed and implemented risk management across the organization, introduced e-procurement through service provider MSTC and started GeM procurement. He is a lifetime member of the Indian Institute of Materials Management (IIMM) and the Indian Institute of Mineral Engineers (IIME).
As CMD of KIOCL, Saminathan will be the Chief Executive of the corporation and will be accountable to its Board of Directors and the Government. He also will be responsible for the efficient functioning of the Corporation, and for achieving its corporate objectives and performance parameters.
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