Five senior PSU officials are in the fray for the top job in Steel Authority of India (SAIL). The aspirants include two directors from the SAIL Board, say media reports. Present CMD Prakash Kumar Singh, who took charge on...
December 10, 2015, is scheduled to retire on June 30 this year. Government head-hunter Public Enterprises Selection Board (PESB) is scheduled to interview the aspirants on March 1 for recommending the most suitable candidate for heading the state-run steel maker. Aspirants include SAIL’s two directors on the board — Anil Kumar Choudhary and Soma Mandal. Choudhary is the senior most director.
Also in the fray is SAIL’s executive director (commercial), Alok Sahay. Nalin Shinghal, chairman-cum-managing director, Central Electronics, a PSU under the department of scientific & industrial research under the ministry of science and technology, is also in the race. State-run MOIL’s commercial director TK Pattnaik is also in the fray.
Following the recommendation of the PESB for a new chairman, it would require the approval from the Appointments Committee of the Cabinet for the person to take over. The job for the new chairman will be a little easier as the company has returned into profitability, after incurring losses in 10 consecutive quarters, in the October-December quarter of the current fiscal on the back of increased demand and stable price. The government owns about 75 percent of SAIL’s equity.
However, SAIL, by virtue of its ‘Maharatna’ status, enjoys significant operational and financial autonomy. The company is in the final stages of completion of its Rs 72,000-crore modernisation and expansion programme that would enhance its hot metal capacity to 23.5 mtpa.