Government-headhunter PESB on Monday nominated the next chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), in signs that the privatisation of the state-owned oil refining and marketing company might be lagged.
The government had kept the position of chairman and managing director vacant after D Rajkumar retired in August previous year. It was thought that the government wanted the new CMD to be named after the new management takes over following the privatisation of BPCL.
The newly revamped Public Enterprise Selection Board (PESB) on Monday interviewed prospective candidates and nominated Arun Kumar Singh
for the position, the headhunter stated through a notice. Singh is presently Director (Marketing) of BPCL.
PESB said it interviewed six candidates, including Singh. All other candidates interviewed were executive director level officers and none had board experience.
"PESB recommended the following name for the post of Chairman & Managing Director, Bharat Petroleum Corporation Ltd - Arun Kumar Singh," the notice expressed.
The government is trading its entire 52.98 per cent stake to a strategic purchaser. Three groups, including Anil Agarwal's Vedanta Group, have claim an expression of interest for buying the stake.
The stake sale was to accomplish with 2020-21 fiscal, but the outbreak of pandemic has delayed the privatisation.
Sources said the new-fangled wave of COVID infections has posed new challenges for the interested parties to do owing diligence and the new deadline of September 30 for the conclusion of the deal might not be met.
After Rajkumar superannuated last year, Director-human resources K Padmakar, who is the senior director on the firm board, was given the additional charge of chairman and managing director, they said.
