With the Public Enterprises Selection Board (PESB) under the Department of Personnel and Training setting in motion the process for selection of the next Chairman and Managing Director of the Rashtriya Ispat Nigam Limited (RINL), there is speculation on whether an inside or outside candidate will get the opportunity to succeed the incumbent, Mr. P. Madhusudan.
The coveted post will fall vacant when Mr. Madhusudan, a chartered accountant and company secretary, will retire on superannuation on May 31.
Authoritative sources told The Hindu that seven candidates from the RINL, including two who are on lien, have submitted their applications. The two on lien are now working as directors in other companies. There is also a talk that two Executive Directors from the Steel Authority of India Limited have thrown their hat in the ring.
The RINL directors who are in the race for the CMD’s post include K.C. Das, Director (Personnel), P.K. Rath, Director (Operations), and V.V. Venugopal Rao, Director (Finance).
The person who will be selected by the PESB through a rigorous process, vigilance enquiry and clearance by the Appointments Committee headed by the Prime Minister, will take over on June 1.
The interview will be held shortly. Earlier, there was buzz that it will be held in the first week of January.
Qualifications
As per the qualifications specified by the PESB, the aspirant should be a graduate with good academic record from a recognised university/institution with preference to those with technical/MBA qualification with two years residual service as on the date of the post falling vacant. Bonus points are given to applicants with finance/marketing/production experience and knowledge of steel industry.
The grapevine has it that additional weightage will be given to internal candidates with experience in steel industry.Mr. Das took over as the Director (Personnel) on January 1, 2017. He worked as the Executive Director (HR) in Mazagaon Docks Ship Builders Ltd for five years. He has almost three decades of experience in GAIL and other companies.
Mr. Venugopal Rao took over as the Director (Finance) on July 7, 2017. He earlier worked in the Hindustan Copper Limited and Braithwaite & Company Ltd as Director (F). He has 31 years of experience having served in the Bhilai Steel Plant from 1991 to 2010.
Mr. Rath has been in RINL since 1983, beginning his career as a management trainee.
