Looking for a successor to MS Ramachandran

Vol 7, PW 26 (24 Mar 04) News in Brief

The search for a successor to Indian Oil chairman MS Ramachandran has begun even though the IOC boss has about a year to retire.

PETROWATCH learns that the Public Enterprises Selection Board has sent the draft of the qualifications that interested candidates must have to be eligible to apply for the post to the oil ministry, which is in the process of vetting it. When complete, the final draft will be circulated among all state-owned oil companies and the process of inviting applications will begin.

This will trigger a long drawn out process of interviews by the PESB, which will eventually shortlist two candidates. After the oil ministry approves the two shortlisted candidates, their names will be submitted to the Appointments Committee of the Cabinet headed by prime minister Atal Behari Vajpayee for a final decision, assuming he is returned to power after elections.

We are told the whole process will take at least another 8-9 months.