Who Will Head IndianOil Now – Chaos And Confusion Rules The Roost
While the game of musical chairs continues, the word from power circles is - ALL IS NOT WELL!
Chaos and confusion still prevails at the helm of affairs in selection of countries largest CPSU, Indian Oil Corporation Limited. The position was last vacant after August 2023, due to schedule retirement of Shri S M Vaidya. The incumbent chairman, SM Vaidya would be 61 in August, and had retired last August as IOCL Chairman. He was then reemployed on contract for another year in the same role. Another one-year extension was recommended by the Petroleum Ministry ahead of the general elections but it was rejected by the Prime Minister Office. www.indiapsu.com – at that time reported that it was a design to grant further extension to S M Vaidya, which later proved to be correct, i.e. suo moto extension till 31 August, 2024 – 61 years.
In a failed bid to find his successor, the PESB has found all candidates unfit in during the selection process and recommended the selection through search committee. The SCSC was formed on July 10, 2023, with PESB Chairperson, Petroleum Secretary and Mr. M.K. Surana (Ex-Chairman HPCL) as member. To utter surprise, the casual approach of SCSC took almost 11 months to publish the vacancy on June 04, 2024, with cut off date of application as July 03, 2024.
At one hand, there has been no dilution in the standard eligibility criteria if age of 58 years for internal candidates and 57 years for external candidates, and on the other hand, the critical HR experience has been removed in the eligibility. This has been the pattern for last few months, leaving many HR starwalts out of race like Manish Patil – Director HR, ONGC, A. Gupta – Director HR GAIL, Raj Dubey – Director HR HPCL and Rashmi Govil – Director HR IOCL. This has caused failure in selection of Chairman for another major Oil CPSU, HPCL also. Recently on June 14, 2024, the board rejected all eight candidates for the post of CMD – HPCL and this coveted post too lies at the mercy of the Search committee for a recommendation.
At the end of the deadline to apply, as per our sources, 60 persons have applied which include 24 from private sector (mostly non-serious ones), making a mockery of system.
Sources tell www.indianpsu.com that the applicants for the head of country’s largest Oil CPSUs include those of the level of Computer Operator, Shift In-charges, Relationship Mangers from private banks, shop floor in-charges etc., completely ridiculing the process of selection through the Search Committee.
The existing board member applicants include Arving Kumar MD CPCL (alredy selected as Director Refineries of IndianOil and was found unfit for Chairman of IOCL during the selection process by PESB Committe having same Chairman as well as Petroleum Secretary, as part of SCSC).
Now, few who remain in the fray, are Deepak Gupta Director Project GAIL, Rajeev Singhal Director BD GAIL, Manoj Dubey Director Finance CONCOR.
Remaining eligible candidates as per age eligibility are having HR experience and not sure about their shortlisting, particularly in the background where people doubt that MoP&NG have no intention to find the replacement of Shrikant Madhav Vaidya. Considering his good relation with Petroleum Minister, who is continuing MODI 3.0, there is a strong murmur in the power circles that SCSC may, once again, not find any suitable candidate and once again try to push for further extension to Shrikant Madhav Vaidya beyond August 2024, as well.
READ ALSO : https://indianpsu.com/cmds-sons-rise-in-iocl-allegations-of-rampant-nepotism-surface-from-the-top-oil-psu/
Another crude joke doing rounds in power circles, is the application of Sujoy Choudhry, present Director (P&BD) of IndianOil, who will attain the age of 60 years in August, 2024. Even if the eligibility for selection diluted, the retirement age has to be 60 years, and he is attaining 60 years in August, 2024.
