Public sector gas utility company GAIL (India) Ltd is finally going to get a full-fledged chairman and managing director.
The Public Enterprises Selection Board has short-listed GAIL's current director (marketing) UD Chaubey and director (finance) RK Goyal as the possible successor to the current acting chairman and managing director MR Hingnaikar.
Chaubey is likely to be the next CMD of the public sector enterprise as he has been the front runner in the PESB selection process, Petroleum Ministry officials said. The recommendation of the PESB will now have to await approval from the Appointments Committee of the Cabinet.
The selection of GAIL's chairman and managing director had been hanging fire for the past three months since the government decided against renewing the term of Proshanto Bannerjee in August.
Bannerjee had about 18 months to superannuation though he had completed a five-year term as chief executive of the gas utility.
The then seniormost director SP Rao was asked to take charge until his superannuation. After Rao retired in October, the government decided to make Hingnaikar the CMD of the company for three months or till a final view could be taken on the issue.