RS Sharma must reapply for CMD post at ONGC
ONGC finance director and acting CMD RS Sharma is faced with limited options following the government’s decision not to confirm him as CMD.
On (Wednesday) 7th February the government’s Press Information Bureau announced that a new chairman would be selected within three months and that Sharma is free to re-apply for the post. Oil minister Murli Deora later said the government would encourage private sector applicants.
Born on 1st February 1951, Sharma is aged 56 and has another four years till retirement at 60. However, his five-year term as director finance ends next month on 20th March.
Unless he receives an extension as director finance, Sharma is faced with three options: resignation, early retirement or demotion to the rank of group general manager. Doubts about Sharma’s position surfaced last week when the PMO rejected his name despite his selection by the Public Enterprises Selection Board following interviews on 30th August last year.
