Govt receives 60 applications for Indian Oil’s Chairman position: Sources

New Delhi: The Search-cum-Selection Committee formed by the government to select a Chairman for India’s largest Oil Marketing company (OMC), Indian Oil Corporation (IOC), has received 60 applications, PSU Watch has learnt from reliable sources. Apart from Indian Oil Directors and Executive Directors, senior officials from several PSUs like Oil & Natural Gas Corporation, NMDC Limited, Coal India Limited (CIL), CONCOR, Hindustan Petroleum Corporation Limited (HPCL), GAIL (India) Limited, Indradhanush Gas Grid Limited (IGGL), Chennai Petroleum Corporation Limited (CPCL), and Bharat Petroleum Corporation Limited (BPCL) have applied for the top job.

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In addition to PSUs, candidates from Reliance Industries Limited (RIL) and HDFC Bank also figure in the list of applicants, along with entrepreneurs and professors. The list of applicants includes candidates from diverse backgrounds.

Search for Indian Oil Chairman heats up

With the current Chairman of Indian Oil, SM Vaidya, set to complete his tenure on August 31, the search for the next chief of the PSU is heating up. Some of the prominent names that figure on the list include IOC Director (HR) Rashmi Govil, IOC Director (Planning & Business Development) Sujoy Choudhury, IOC Director (Finance) Anuj Jain, IOC Director (Marketing) Satish Kumar Vaduguri, IOC Director (Pipelines) Senthil Kumar, IOC Director (R&D) Alok Sharma, CPCL MD Arvind Kumar, HPCL Director (Marketing) Amit Garg, GAIL Director (Projects) Deepak Gupta, GAIL Director (BD) Rajeev Kumar Singhal, IGGL CEO Ajit Kumar Thakur, BPCL Director (Marketing) Sukhmal Kumar Jain and BPCL Director (Refineries) Sanjay Khanna.

The government floated a vacancy for the position of Indian Oil Chairman in June this year after the Public Enterprises Selection Board (PESB) failed to find a suitable candidate. An SCSC was set up and applications were invited from engineers, chartered accountants and cost accountants with post graduate management degrees from leading institutions and having at least 5 years experience in leadership roles, by July 3. The age eligibility was set at not more than 58 years for internal candidates and 57 years for outsiders with 60 years as retirement age, which ruled out the suitability of Vaidya applying again for the post as he would attain the age of 61 years in August.

The three-member SCSC formed by the government is headed by the government headhunter, PESB chairperson, and includes the oil secretary and former HPCL Chairman MK Surana as members.

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