B C Tripathi leads race for IndianOil Chairman’s post
3 Oct 2013 10:35 PM GMT
GAIL Chairman and Managing Director B C Tripathi is leading the race to become the next chairman of Indian Oil Corporation Ltd (IOCL), the nation's largest oil firm. Tripathi and 10 other candidates have been called for interviews by government headhunter Public Enterprise Selection Board (PSEB) on 9 October to decide who will head IOC when incumbent R S Butola superannuates on 31 May next year.
Official sources said none of Indian Oil Corporation's seven directors are eligible as they do not have the requisite two years of remaining service for being considered for the top job. The current IndianOil board comprising a chairman and seven functional directors, will retire between May 2014 and October 2015.
Tripathi, 53, who is known for giving a vision to GAIL and turning it into an aggressive gas retailing firm, was the youngest chief executive of a Navratna public sector undertaking (PSU) when he took over as chairman and managing director of gas utility GAIL India Ltd at the age of 49 years on 1 August, 2009.
Tripathi, whose five-year term at GAIL ends on 31 July, 2014, is eligible for another term as he will superannuate only in January 2020. He had also applied for the top job at Oil and Natural Gas Corporation (ONGC) but did not appear for the interview.
Sources said six executive directors of IOC are among those called for interviews. Though executive directors rank lower in the priority for PESB selections as they do not have any board experience, at least two executive directors (ED) of IOC -- Sanjiv Singh and B Ashok are considered strong contenders. Singh is ED of Panipat refinery while Ashok is ED (Retail Sales).
Other EDs in fray are Anish Aggarwal, ED Western Region Pipelines, Guaridad, B D Yadav, ED, Northern Region Pipelines, Panipat, B S Canth, ED marketing division at Andhra Pradesh state office, and Vijay Prakash.
Project and Development India Ltd (PDIL)
chairman M Ravi Kant, Security Printing and Minting Corp chairman M S Rana, Central Coalfields Ltd chairman Gopal Singh and Ashwani Lohani of Indian Railways are the other candidates in fray for IOC top job, they said.
Indian Oil Corporation is the world's 88th largest corporations, according to the Fortune Global 500 list, and the largest public corporation in India by revenue. It controls about half of the fuel market in the country and has a 31 per cent share in refining capacity in India.
It owns and operates 10 of India's 22 refineries, with a combined refining capacity of 65.7 million tonnes per year. The Government owns 78.92 per cent in IOC.
Official sources said none of Indian Oil Corporation's seven directors are eligible as they do not have the requisite two years of remaining service for being considered for the top job. The current IndianOil board comprising a chairman and seven functional directors, will retire between May 2014 and October 2015.
Tripathi, 53, who is known for giving a vision to GAIL and turning it into an aggressive gas retailing firm, was the youngest chief executive of a Navratna public sector undertaking (PSU) when he took over as chairman and managing director of gas utility GAIL India Ltd at the age of 49 years on 1 August, 2009.
Tripathi, whose five-year term at GAIL ends on 31 July, 2014, is eligible for another term as he will superannuate only in January 2020. He had also applied for the top job at Oil and Natural Gas Corporation (ONGC) but did not appear for the interview.
Sources said six executive directors of IOC are among those called for interviews. Though executive directors rank lower in the priority for PESB selections as they do not have any board experience, at least two executive directors (ED) of IOC -- Sanjiv Singh and B Ashok are considered strong contenders. Singh is ED of Panipat refinery while Ashok is ED (Retail Sales).
Other EDs in fray are Anish Aggarwal, ED Western Region Pipelines, Guaridad, B D Yadav, ED, Northern Region Pipelines, Panipat, B S Canth, ED marketing division at Andhra Pradesh state office, and Vijay Prakash.
Project and Development India Ltd (PDIL)
chairman M Ravi Kant, Security Printing and Minting Corp chairman M S Rana, Central Coalfields Ltd chairman Gopal Singh and Ashwani Lohani of Indian Railways are the other candidates in fray for IOC top job, they said.
Indian Oil Corporation is the world's 88th largest corporations, according to the Fortune Global 500 list, and the largest public corporation in India by revenue. It controls about half of the fuel market in the country and has a 31 per cent share in refining capacity in India.
It owns and operates 10 of India's 22 refineries, with a combined refining capacity of 65.7 million tonnes per year. The Government owns 78.92 per cent in IOC.
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