Wanted: new ONGC charity CEO
ONGC is evaluating more than 60 applications for the CEO of its charitable foundation.
Interested candidates sent in CVs by May 9 (2024) after ONGC advertised the role on April 18 (2024). Eligible applicants must be no older than 58 and no younger than 53 on the date of application.
ONGC will now create a shortlist of 20 candidates ahead of selection committee interviews in Delhi. On offer is a three-year term with two optional 12-month extensions.
DM Kiran, the previous CEO, stepped down in January 2023. Whoever replaces him will receive an annual, all-inclusive pay package of Rs75 lakhs ($94,000) and will be based in Delhi.
Broadly, the CEO/Chief Operating Officer will oversee all the work of the ONGC Foundation. Set up in 2014, the ONGC Foundation focuses on "CSR initiatives that promote sustainable development goals and strives for a sustainable world through partnerships with stakeholders including government, non-government and community-based organisations," says the advert.
The foundation's activities "span the length and breadth of the country, touching upon major focus areas of healthcare, education, livelihood, skill development, rural development and environmental sustainability," it adds. In April 2014, India made CSR activities mandatory following an amendment to the Companies Act 2013.
Companies worth over Rs500cr ($70m) or with an annual turnover exceeding Rs1000cr ($140m) or a net profit of Rs5cr ($700,000) or more must spend 2% of their average net profits of three years on CSR in education, poverty, gender equality, and hunger eradication. Defaulting companies attract penalties ranging from Rs50,000 ($700) to Rs 25 lakhs ($35,000), and the officer responsible for CSR is liable to be imprisoned for up to three years or fined up to Rs5 lakhs ($7000), or both.
Before this amendment, CSR spending was voluntary.