PESB starts hunt for top-level PSU execs

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: The Public Enterprises Selection Board (PESB) has initiated the hunt for top-level executives in public sector units (PSUs) like Hindustan Aeronautics Limited (HAL), Hindustan Shipyard Limited (HSL) and Electronics Corp of India (ECIL).

The board has been seeking applications for the posts of chairman and CMDs in these and few other PSUs like Bharat Electronics Limited, Security Printing and Minting Corp of India (SPMC), Brahmaputra Valley Fertiliser Corp (BVFC), State Trading Corporation and Metals and Scrap Trading Corporation. However, most of the top jobs in these PSUs are likely to fall vacant during the middle of next year barring the CMD’s office of BVFC that is lying vacant since April, and that of SPMC that has been vacant since November 2007.

The tenure of chairmen of MTNL, Engineers India Ltd and Hindustan Copper would also end sometime next year. The MDs for Chennai Petroleum Corp, Container Corp of India and ONGC Videsh would also see their tenures come to an end next year.

The board, which advises and helps the government in selection of board members at public sector firms, has already begun the recruitment process for at least 27 board positions of various PSEs, a number of which are already lying vacant. It has also started the search to fill the over 24 positions as board members for various PSEs like State Trading Corp, Nalco, Power Finance, NTPC and PGCIL.

PESB is also looking at eligible candidates to fill the 19 director level positions in Nalco, Power Finance Corp (PFC), NTPC, Goa Shipyard, Powergrid Corp of India(PGCIL), Rashtria Ispat Nigam (RINL) and Cotton Corp of India (CCIL). In addition to the 27 board positions for which PESB has started inviting applications, another 150 board seats are expected to fall vacant by the end of the next year, including close to 50 for top positions like Chairperson, CMD and Managing Director.

There are at least 99 companies where tenure of one or more board members would conclude by next year. Unless exceptionally better candidates are available from outside, internal candidates, employed in the PSE, are preferred for appointment to Board level posts.