Subhash Kumar, Director (Finance) at Oil and Natural Gas Corporation, is tipped to take additional charge as Chairman and Managing Director of the company on Thursday as incumbent CMD Shashi Shanker attains superannuation.
According to sources in the know, Ministry of Petroleum & Natural Gas, which is the nodal Ministry, has taken a call on this. The reason for delay in getting a CMD for ONGC has been due to the fact that the Public Enterprises Selection Board (PESB), which is assigned with the task of selecting a CMD, is yet to get its own vacancies filled to discharge its duties.
Kumar is the senior-most Director at the firm, serving in his current position since January 31, 2018. Previously, he had a brief stint as Director (Finance) at Petronet LNG Ltd, a role he took up in August 2017. He is an alumnus of Punjab University, where he obtained his Bachelors and Masters degrees in Commerce.
Outgoing CMD Shanker, who took over the reins of the country’s most profitable public-sector company in October 2017, retires as an industry veteran after nearly four decades of experience.