PESB fails to find new Oil India CMD for third time

On Wednesday, PESB interviewed 10 candidates. The process for the selection of CMD for Oil India is continuing since November

For a third time, the Public Enterprises Selection Board (PESB) could not select a new chairman and managing director of Oil India after interviewing the candidates.

On Wednesday, PESB interviewed 10 candidates, but decided to “see more candidates.” The  high drama for the selection of chairman and managing director for second largest government-run explorer Oil India Limited is continuing since November, when the first round of interview was conducted.

Among the candidates, who appeared for the latest round include Rupshikha Saikia Borah, who is currently director (finance) with Oil India; Gajendra Singh, ED of GAIL; N K Verma, MD of IGL; Jaiveer Srivastava, CMD of FACT; R P Singh, director personal at Powergrid; Rakesh Kumar, director at NLC; NK Jain, director finance of AIL; C Kannan, director finance of SECI, Rajiv Chopra, director marketing of STC and SPS Bakshi, CMD of EPIL.

For the third round, 12 candidates had put up their applications. However, none of them, other than Borah has an exploration background. Borah, the director (finance) with Oil India, has been interviewed twice earlier by PESB for the post. The first round of interview took place in November last year where six applicants appeared including Borah.

But, PESB decided to see more candidates. The second attempt was made in February. Though the government never revealed the reason for not going ahead with appointing Borah as chairman and managing director after she emerged successful at the PESB interview, there are indications that centre is looking for an executive who can turn around the company, which has been stagnant for past few years. Currently, UP Singh, who is additional secretary (exploration) at the petroleum ministry holds the chair of Oil India head. The post could not be filled after Sunil Kumar Srivastava, chairman and managing director of the explorer retired on June 30.

Srivastava who had replaced NM Borah in May 2012 couldn’t improve production trend of the explorer neither could bring any new find into production.

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