The central government on Wednesday (31.08.2022) appointed Rajesh Kumar Srivastava as the interim new Chairman and Managing Director (CMD) of State-run Oil and Natural Gas Corporation Ltd (ONGC). He is the third interim chief who has been appointed in last 17 months, as the government has not made a full-time appointment yet.
According to an order issued by the oil ministry, Srivastava has been entrusted with additional charge of Chairman and Managing Director for a period of 4 months with effect from September 1, 2022, to December 31, 2022 (i.e the date of his superannuation) or till the appointment of a regular incumbent to the post, or until further orders, whichever is the earliest.
Srivastava is currently Director (Exploration) and will take over additional charge from incumbent Alka Mittal, also an acting head who superannuated on Wednesday. Srivastava is considered a strong contender for the post under the changed norms that made several retired directors eligible with a three-year fixed tenure.
Oil and Natural Gas Corporation (ONGC) is without a regular Chairman and Managing Director since April 2021. Subhash Kumar, the then senior-most Director on the company board and the Director for Finance, was named officiating head after Shashi Shanker superannuated on March 31, 2021.
On August 27, six candidates appeared for an interview before a search-cum-selection committee that is looking for a new head for India’s top oil and gas producer ONGC.