IOC likely to see board-level tweaks
NEW DELHI: The board of IndianOil appears set for some rejig, the second flagship public sector company after ONGC to witness structural changes at the top, to align the management functioning with new initiatives in a changing energy landscape.
People in the know said the changes are likely to begin with chairman Shrikant Madhav Vaidya being given the additional hat of managing director to wear, giving India’s largest oil refiner and fuel retailer its first MD since it was formally incorporated in 1964.
The oil ministry has approved the re-designation of the chairman’s post and awaiting clearance from the corporate affairs ministry’s nod, the people sited above said.
