As Race Hots Up For Post Of New Chairman Of IOCL : Is It Going To Be A Case Of Rob Peter To Pay Paul ?

Its all behind the curtains and a hush-hush affair as the selection process for the new Chairman of Indian Oil Corporation Limited (IOCL) progresses by the search-cum-selection-committee. But one fact can be said to be the writing on the wall that the present Chairman, S.M. Vaidya, is not getting further extension, despite the best efforts of his well wishers in the Ministry of Petroleum and Natural Gas.

Weeks before of the completion of the year-long extended tenure of Shrikant Madhav Vaidya the search-cum-selection-committee on Sunday interacted with about a dozen of candidates. The three-member search-cum-selection committee is headed by Mallika Srinivasan (Chairperson, PESB) alongwith Petroleum Secretary Pankaj Jain and former HPCL Chairman M K Surana as members.

Reportedly, one-sixth of applicants were called for selection interview but the entry of GAIL CMD Sandeep Gupta, who was not in the list of candidates, appearing for the interview, has come as a surprise to many. Though sources say that PESB Chairperson Mallika Srinivasan is backing the candidature of IOCL Director (Marketing) V. Satish Kumar.

Taking around one year by SCSC and selecting Sandeep Gupta will create vacuum for chairman of GAIL and it will be a major shock for Oil & Gas sectors PSUs. The PSEB has not succeeded in finding chairman of HPCL also and the strangest part is that if GAIL CMD Sandeep Gupta is chosen for this post, top post for another major PSU GAIL will be falling vacant and here comes the catch! ROB PETER TO PAY PAUL…..

With lobbying at its peak for the plum post, it remains to be seen who emerges the strongest off all. In the meantime, www.indianpsu.com extends best wishes to all aspiring candidates.