Ashok Kumar Panda, currently serving as Director (Finance) at the Steel Authority of India Limited (SAIL), is going to be its new Chairman and Managing Director (CMD), as his name has been recommended for the post by the Public Enterprises Selection Board (PSEB). Panda also held an additional charge of Director (Commercial) at the public sector enterprise before T N Natarajan was deputed to that post.
Starting his career as a Management Trainee with SAIL after completing his electrical engineering, Panda brings with him three decades of experience in different plants and units at SAIL.
He holds a specialization in Finance from XIM, Bhubaneshwar, and later acquired a Ph.D. in Business Finance.
His achievements include reducing borrowings by Rs 20,000 crore through deleveraging efforts and implementing cost reduction initiatives that include identification of shop-wise technical levers and implementing action plans to resolve inefficiencies towards improving the bottom line.
Panda is also said to have played a key role in determining the fair price of rails supplied to the railways. Besides, he was also instrumental in revising the Fixed Asset Sales Accounting Policy in the public sector undertaking.
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