The old order changeth
Several large public sector monoliths and organisations will have new chief executives this year.india Updated: Mar 31, 2006 12:49 IST
Several large public sector monoliths and organisations will have new chief executives this year. While some of the CMDs are retiring, others will see their terms come up for renewal.
Among the bigger outfits are State Bank of India, ONGC, GAIL, NTPC, Air India and the Director General Civil Aviation (DGCA).
CP Jain, CMD of power major NTPC will retire on Fri day, March 31. He is to be replaced by T Shankar Lingam, director projects at NTPC itself.
Similarly, ONGC boss Major Subir Raha's term comes up for extension on May 24. It is believed that Raha, who has been in many wars in the recent past, will get an extension. This way his tenure will end in August 2008.
Satinder Singh who is DGCA, a critical position in civil aviation, is also to retire on Friday.
There is talk that Kanu Gohain, joint DGCA, will replace him in this sensitive position. Having joined DGCA as scientific officer in 1972, he is the senior most official in the directorate after Singh.
Others whose terms end this year are GAIL chairman Proshonto Banerjee, who has taken the company forward by leaps and bounds. His term is to end on August 27, this year.
Air India Chairman V Thulasidas's term ends on December 21, this year. The Tripura cadre IAS officer has already been empanellled and is expected to move to the centre by May this year. It is clear that Air India is to get a new CMD around the same time. Now the question is whether an insider or an outsider will get this coveted job. VK Verma, commercial director, is reported to be on the inside track for the job, but a vigilance case is pending against him. This could mar his chances. Interestingly, the change at top at AI comes when the legacy airline is to be merged with Indian and is readying to receive 68 new Boeing aircraft.
A former CMD of a telecom PSU said, “The first and critical challenge for any new CMD of a PSU is to keep the ‘Babus’ and Ministry away from the day- to-day functioning. To maintain independence is a bigger challenge in PSU that is big is crucial for the sector.” SBI Chairman AK Purwar retires on May 31. It is not yet known who will replace this resident of Dunidin on Malabar Hill, Mumbai, who heads India's largest bank.