New Delhi: The Director (Finance) of Oil & Natural Gas Corporation (ONGC), Subhash Kumar, is set to get additional charge of the ONGC CMD’s post, an official order issued by the Ministry of Petroleum and Natural Gas in this regard, accessed by PSU Watch, showed. Kumar has been picked by the government to lead the Maharatna oil PSU until the time a full-time CMD is appointed. The current CMD of ONGC is Shashi Shanker. He was appointed to the position in 2017. And he superannuates on Wednesday.
Subhash Kumar gets additional charge as ONGC CMD for 3 months
According to the order issued by the Ministry, the ONGC Director (Finance) has been given additional charge of the CMD’s post for a period of three months, with effect from April 1, or until further orders, whichever is earlier. In the interim period, interviews will be conducted for the ONGC CMD position and a full-time CMD will be appointed, said sources.
Kumar is an alumnus of Panjab University, Chandigarh, where he obtained his Bachelor’s degree and Master’s degree in Commerce with gold medal. He is a fellow member of ICMAI and also an Associate Member of ICSI. He joined ONGC in 1985 as Finance & Accounts Officer (F&AO). After initially working in Jammu and Dehradun, he had a long stint at ONGC Videsh, the overseas arm of ONGC. During his tenure with ONGC Videsh, Kumar has been associated with key acquisitions and expansion of the company’s footprint from a single asset company in 2001 into a company with a global presence in 17 countries with 37 assets. He played a key role in the evaluation and acquisition of many assets abroad by ONGC Videsh. He has been serving as Director (Finance) of ONGC since January 31, 2018. Prior to joining ONGC, he has had a brief stint with Petronet LNG Limited where he joined as Director (Finance) in August 2017.
Kumar worked as head business development, finance and budget and also as head treasury planning and portfolio management group at ONGC Videsh from April 2010 to March 2015. He then went on to serve as Chief Financial Officer of Mansarovar Energy Colombia Limited, a 50:50 joint venture of ONGC Videsh and Sinopec of China, from September 2006 to March 2010.
Kumar joined back at ONGC as Chief Commercial & Head Treasury of ONGC in July 2016.
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