New CMD HPCL, Inordinate Delay In Declaration Of Name Sparks Off Rumour Of Sorts In Power Circles
If the Search-cum-Selection Committee has decided the name, why is it not being made public, ask industry leaders
Oil Marketing Companies are facing unprecedented challenges of stress on profitability due to non-payment of under- recovery on LPG. This problem has become the core complex issue before HPCL, due delay in appointment of full time chairman, which had been assigned to the Search-cum-Selection Committee (SCSC). The SCSC had completed its interview more than one and a half months back and decided the name, but surprisingly, the same is yet to be disclosed !
The oil and gas industry is abuzz with rumours of sorts due to the long delay in announcement of the name of the new Chairman and Managing Director of Hindustan Petroleum Corporation Limited. This is primarily because once the Search-cum-Selection Committee, takes its decision, if could be a matter of just a week or two for the Vigilance clearance for the selected candidate.
But this long and eerie silence over the issue, has certainly created a big doubt in minds of industry captains who are now quite skeptical regarding the whole process of selection for the top post.
It was way back, on November 13, 2024, when the Chairperson of the Public Enterprises Selection Board (PESB) had agreed to hold a meeting of the Search-cum-Selection Committee, for the selection of the candidate for this post.
But, now we are 2025, almost two months after this development, but till date, the outcome is a big zero!
The position has been vacant since August 31, 2024, following the retirement of Push Kumar Joshi. Currently, Rajneesh Narang, HPCL’s Director (Finance), has been serving as the acting CMD since September 1, 2024.
In all, six persons had been shortlisted for the selection process.
They are :-
a) Amit Garg, Director (Commercial) at Hindustan Petroleum Corporation Limited
b) Arvind Kumar – Director (Refinery) at Indian Oil Corporation Limited (IOCL)
c) Rajneesh Narang – Director (Finance) at HPCL, also holding the additional charge of CMD
d) Bharatan – Executive Director at HPCL
e) K K Chatiwal – Managing Director at Indraprastha Gas Limited (IGL)
f) Sukhmal Jain – Executive Director at Bharat Petroleum Corporation Limited (BPCL)
दाल में कुछ काला है, या दाल ही काली है – quip industry captains….
