Dinesh K. Sarraf on Friday took over as the CEO and Managing Director of ONGC Videsh Ltd. (OVL), the overseas investment arm of state oil and gas explorer Oil and Natural Gas Corporation.
Mr. Sarraf, 54, was Director (Finance), ONGC before being selected to head the company tasked with acquisition of oil and gas properties overseas.
Mr. Sarraf has resigned from the post of Director (Finance) after being appointed for the OVL's top job. He relinquished his charge on Friday.
The post of OVL Managing Director fell vacant when R. S. Butola took over as the Chairman of Indian Oil Corporation earlier this year. Mr. Sarraf was selected for the job by government head-hunters Public Enterprise Selection Board (PESB).
Formal orders appointing Mr. Sarraf as Managing Director of OVL were issued by the Petroleum Ministry on September 14 but he did not take charge immediately due to impending share sale of ONGC. Now that the follow-on public offer (FPO) has been deferred, he has taken the charge.
