PESB names Kesavan as HPCL finance director; ONGC left in lurch

The Public Enterprises Selection Board (PESB), the government’s head-hunter, has picked R Kesavan as the new finance director of state-run oil refiner Hindustan Petroleum Corporation Ltd (HPCL).

The selection of Kesavan, who is with HPCL for 33 years, further dashes the hopes of state-run oil explorer Oil and Natural Gas Corporation Ltd (ONGC) of being recognised as a promoter of HPCL with attendant powers to name directors to the oil refiners board.