Balakrishnan, Behuria among 10 in race for Petronet LNG top job
Hindustan Petroleum Corp chairman and managing director Arun Balakrishnan and former IOC head Sarthak Behuria are among the 10 candidates in the fray for the top job at Petronet LNG (PLL).
Steel-maker SAIL chairman S K Roongta, GAIL finance director R K Goel and ONGC director-HR and bsiness development Ashok Balyan have also been identified as potential candidates for the post of chief executive officer and managing director of the country’s largest liquefied natural gas importer.
In all, 29 candidates have applied for the job and a search committee has shortlisted 10 meeting the eligibility criteria,” a source familiar with the development said. The search committee, which comprises representatives of the five promoter companies of PLL, is scheduled to hold interviews of the shortlisted candidates on 29 May.
While Balakrishnan is considered a favourite to bag the job, only Goel and Balyan have experience with gas sourcing — the primary job of PLL. After his unceremonious exit from IOC this February, Behuria is an advisor to PLL now. The post fell vacant after incumbent Prasad Dasgupta took early retirement. Dasgupta’s five-year term was to come to an end on 31 August and he was eligible for a two-year extension till he attained superannuation at the age of 65 in 2012. He, however, quit the job last month.
Petroleum secretary S Sundareshan, who is the chairman of PLL, constituted the search committee comprising representatives of the company’s promoters IOC, ONGC, GAIL, Bharat Petroleum and Gaz de France. PLL Independent director D P Roy is also in the committee, the source said. PLL director for finance & commercial A Sengupta, Imperial Energy CEO Ashok Verma, Hindustan Latex chairman and managing director M Ayyappan and projects & development India chairman and managing director R G Rajan are also in the race.
The post of MD & CEO of PLL carries a remuneration five times the salary of a PSU chairman. What is more, the retirement age at PLL is 65, whereas the retirement age at PSUs is 60 years. These are reasons why PSU heads superannuating this year have applied for the job, the source said.
Balakrishnan will reach superannuation on 31 July, while Roongta is due to retire on 31 May. Behuria did not get an extension of his tenure as IOC chief this February, though he was due to superannuate in 2012. The eligibility criteria for the job states that preference would be given to persons having oil and gas experience.
News agencies
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