PESB rejects all 10 candidates, finds no suitable one for IOCL Chairman

New Delhi: The Public Enterprises Selection Board (PESB) has rejected all ten candidates they interviewed for the position of chairman of Indian Oil Corporation (IOC). PESB has advised the petroleum ministry to pursue an alternative selection mechanism such as a search-cum-selection committee for the appointment of a new chairman.

This is not the first time that PESB has rejected all candidates, and in the past, a search committee was formed to expand the pool of candidates. The current chairman of IOC, S M Vaidya, is due to retire in August, and a selection committee would have the opportunity to bring in new candidates.
 

With PESB not recommending anyone for the position, sources suggest that the current chairman, S M Vaidya, may receive an extension. The strongest candidate, who turned around losses in profits for CPCL, and another strong contender from IOCL did not receive the position.

The following applicants were interviewed in the selection meeting:

1 Mr. ARVIND KUMAR, Managing Director, Chennai Petroleum Corporation Limited (CPCL)
2 Mr. SANDEEP JAIN, Executive Director, Indian Oil Corporation Ltd.
3 Mr. ANNA DURAI, Executive Director(Other Units), Indian Oil Corporation Ltd.
4 Mr. SAILENDRA KURUMADDALI, Executive Director, Indian Oil Corporation Ltd.
5 Mr. SANJAY PARASHAR, Executive Director(Other Units), Indian Oil Corporation Ltd.
6 Mr. GUR PRASAD, Executive Director, Indian Oil Corporation Ltd.
7 Mr. MANOJ KUMAR DUBEY, Director(Finance), Container Corporation of India Limited (CONCOR)
8 Mr. RAJEEV KUMAR SINGHAL, Executive Director, GAIL (India) Limited
9 Mr. YATENDRA KUMAR, Additional General Manager, Indian Railways Service of Electrical Engineering
10 Mr. RANJAN PRAKASH THAKUR, Chief Vigilance Officer (CVO), Indian Railways Traffic Service

PESB in its borad meeting siad, "Keeping in the view the strategic importance & vision for the company and its future, the Board did not recommend any candidate and advised the Ministry of Petroleum & Natural Gas to take an appropriate course of further action including Search-Cum-Selection Committee (SCSC) or as deemed appropriate for the selection, with the approval of the competent authority