ONGC looking for director finance

Vol 11, PW 7 (09 Aug 07) News in Brief

ONGC has begun looking for a new director finance to replace RS Sharma following his coronation as company CMD.

By August 8th, some 21 candidates had applied for the post following an invitation from the Public Enterprises Selection Board to state-owned oil companies on July 9th. In the circular the PESB said CVs and applications should be submitted within 30 days from July 9th.

Eight contenders are from ONGC; six from Indian Oil; two from HPCL; one from BPCL; two from junior explorer Oil India; one from ONGC subsidiary MRPL and one from the Petroleum Planning and Analysis Cell. Most agree it is too early to start predicting a winner but two names have already begun circulating: DK Sarraf, director finance at OVL, and LK Gupta, director finance at MRPL.

“Gupta is a smart guy,â€‌ says a source. “He has a good track record.

â€‌ Adds another source: “Sarraf's name has been circulating for long but he might not want to go to ONGC. He is happy at OVL.