Ramulu or Rao will be HPCL director finance by August

Vol 7, PW 8 (02 Jul 03) News in Brief

Sometime next month Hindustan Petroleum will have a new finance director to replace S.

D Gupta who died in office on 26th December 2002. We learn that two executive directors of the company have been short listed for the job: C.

Ramulu, joint venture and strategy, and C.N Rao, corporate finance.

Ramulu and Rao were short listed by the Public Enterprises Selection Board after interview. Their names have now been sent for clearance to India's anti corruption watchdog the Central Vigilance Commission.

Once the CVC clears both names, the Appointments Committee of the Cabinet will choose one to be director finance. "We expect the appointment to be made by August," said a source.

D.S Mathur, director refineries at HPCL, is holding temporary charge of the finance director's position until an announcement is made.

The appointment of a new finance director comes as HPCL prepares for privatisation.