NEW DELHI, Oct 21 � Director General of the Directorate of Hydrocarbons, SK Srivastava has been selected as the next chairman-cum-managing director of Oil India Limited (OIL) by the Public Enterprise Selection Board (PESB). He is likely to take over as the next CMD after a final approval by the all-powerful Appointment Committee of Cabinet (ACC).
Srivastava would take charge from the current CMD NM Borah, who is due to retire on April 30, next on attaining superannuation age of 60 years the same day. Borah had taken over as the CMD of OIL in December 2008.
The PSEB on Thursday announced Srivastava�s selection from a panel of five names including Director (E&D), OIL, BN Talukdar, Director (HR & BD) of OIL, NK Bharali, Director (Operation) OIL, Satchidnanda Rath, and CMD of SIL Ajai Kumar, CMD, who is on lien with ONGC, besides Srivastava.
PSEB said that after interviewing the five applicants for the post of Chairman and Managing Director, Oil India Limited, Srivastava has been selected.
According to established procedures, the ACC, which is headed by the Prime Minister, would consider the PSEB�s recommendation on receipt of clearances from various agencies including the Central Vigilance Commission (CVC). Srivastava is tipped to take over next May, said sources.
Srivastava was Director (Operations) at OIL before he was appointed as DG, DGH in February 2010. The Ministry of Petroleum and Natural gas had opted for Srivastava as the temporary head of DGH, when it decided to replace the then DG, V K Sibal, in October 2009. He was formally appointed DG, DGH in February 2010.
He would serve his term CMD OIL till June 2015, when he attains the superannuation age.