Another half-baked IndianOil chairman advert
After much drama, the oil ministry has published a half-hearted vacancy notice to replace IndianOil chairman SM Vaidya when his one-year extension ends.
However, a source believes the oil ministry must want Vaidya to secure another extension beyond September 1 (2024) because the notice is barely any different from the notice published last time, which led to unsuccessful PESB interviews in 2023. "A similar notice was issued when PESB interviews happened for the first time," he stresses.
"What is the point of issuing the same vacancy notice; if the PESB could not find anyone suitable last time, what guarantee is there that they will find someone now?" On May 16 (2023), the PESB interviewed candidates and noted tersely: "The board did not recommend any candidate and advised the oil ministry to take appropriate further action including a search and selection committee or as deemed appropriate for the selection with the approval of the competent authority." Our source suggests that if the ministry wanted, it could have secured approval for the revised criteria that the search and selection committee indicated.
However, our source acknowledges that there has been one crucial change: candidates with HR experience are not eligible to apply. "This will make director HR (Ms) Rashmi Govil ineligible," he adds.
"She was a strong candidate." Previously, the PESB also made those with an HR background ineligible to apply when it advertised the HPCL chairman role on December 7 (2023).
According to the latest IndianOil chairman notice: "The applicant should possess cumulative experience/exposure for at least five years during the last ten in finance, BD, production, operations, marketing, or project management in a large organisation." During the 2023 interviews, IndianOil director refineries and former MD of IndianOil subsidiary Chennai Petroleum Arvind Kumar was the strongest candidate.
Still unclear is whether he will apply again. PESB chairperson Mallika Srinivasan, oil secretary Pankaj Jain, and former HPCL chairman MK Surana make up the search and selection committee.