Six months after the post fell vacant, Maharatna company ONGC will have a new Director (Finance) in A K Srinivasan, who was selected by Government head hunter Public Enterprise Selection Board (PESB) on Tuesday.
Srinivasan, who was selected over 11 candidates who had appeared for the interview on October 14, including five of his own colleagues from ONGC, is currently an Executive Director in the country's most profitable company.He will fill in the vacancy created after the retirement of A K Banerjee, who superannuated on April 30, 2015.Srinivasan, 57, was the senior most among the internal candidates, which also included officials from Indian Oil Corporation and Gas Authority of India ltd, according to a notification by PESB.
The recommendation will now go to the Oil Ministry which after processing will move a proposal to the Appointments Committee of the Cabinet (ACC) after taking no-objection from anti-corruption watchdogs CVC and CBI.Srinivasan will be appointed Director (Finance), ONGC, subject to approval of ACC headed by Prime Minister Narendra Modi. He will have a tenure of about two years.