The government has appointed interim chairmen for Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) as the search for full-time heads continues. Satish Kumar Vaduguri, Director (Marketing) at IOC, will serve as interim chairman for three months starting September 1, 2024, replacing Shrikant Madhav Vaidya, whose extended term ends on August 31.
Similarly, Rajneesh Narang, Director (Finance) at HPCL, has been named interim Chairman and Managing Director for three months, succeeding Pushp Kumar Joshi, who retires on August 31 upon reaching the age of 60.
A three-member search-cum-selection committee, led by the Public Enterprises Selection Board (PESB) chairperson, is overseeing the appointment process for permanent heads at both companies. The committee is reportedly considering Sandeep Gupta, current CMD of GAIL and former Director (Finance) at IOC, for the IOC chairman role. The Appointments Committee of the Cabinet is currently vetting his candidacy.
