PESB seeks applications for SAIL chairman’s post

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New Delhi | Published: November 2, 2017 6:07:07 AM

The Public Enterprises Selection Board (PESB) has invited applications for the post of Steel Authority of India (SAIL) chairman, including those from the private sector.

The Public Enterprises Selection Board (PESB) has invited applications for the post of Steel Authority of India (SAIL) chairman, including those from the private sector. (Image: Reuters)

The Public Enterprises Selection Board (PESB) has invited applications for the post of Steel Authority of India (SAIL) chairman, including those from the private sector. Incumbent PK Singh is retiring on June 30. A private sector official shall have to hold a board-level position in the company which must have a minimum annual turnover of Rs 10,000 crore to apply. The criteria is the same for PSU officials as well. Applicants from the armed forces should be holding the post of the level of lieutenant-general in the army or equivalent rank in the navy/air force. Any government official holding the post of additional secretary can also apply. The last date for submission of application is December 7. The appiontment shall be for a period of five years from the date of joining or up to the date of superannuation, whichever is earlier.

The applicant should have adequate experience at a senior level of management in a large organisation of repute. Having experience in finance, marketing or production will have added advantage. Knowledge of the iron or steel sector is also desirable, the advertisement reads. For SAIL, the chairman is the chief executive of the corporation and accountable to its board of directors and the government. The chairman will be responsible for the efficient functioning of the corporation and for achieving its corporate objectives and performance parameters.

The government has 75% shareholding in the company. However, SAIL, by virtue of its Maharatna status, enjoys significant operational and financial autonomy. The Cabinet on June 1 last year had given its ex-post facto approval for amending public sector recruitment rules, paving the way for appointment of private sector personnel and state public sector enterprises at senior positions in CPSEs.

SAIL is the largest steel-making company in the country and one of the seven Maharatnas among the country’s CPSEs. SAIL produces iron and steel at five integrated plants and three special steel plants. SAIL had reported a Rs 4,137-crore loss in 2015-16 on a sales turnover of Rs 43,337 crore. The company produced 15.72 million tonne of hot metal in that year. In 2016-17, it reported Rs 2,833-crore loss on a turnover of Rs 49,767 crore.

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