New Delhi: As the tenure of Shrikant Madhav Vaidya, Chairman of Indian Oil Corporation Limited (IOCL), nears its end, the Search-cum-Selection Committee (SCSC) is gearing up to make a pivotal decision regarding his successor. The committee, led by Mallika Sriniwasan (Chairman, PESB), alongside Petroleum Secretary Pankaj Jain (IAS: 1990: AM) and former HPCL Chairman M.K. Surana, has recently interviewed approximately a dozen candidates to identify a suitable successor.
The interviews took place at Shastri Bhawan, the Ministry of Petroleum & Natural Gas’s headquarters, where the majority of candidates were from IOCL. Notably, an external candidate is reportedly leading the selection process with a distinct advantage. Although the final decision remains pending, it is expected to be a while before the new Chairman is officially announced.
Vaidya, who was initially set to retire on August 31, 2023, had his tenure extended for an additional year, concluding on August 31, 2024, under re-employment terms. As the SCSC completes its process and submits its recommendations, Vaidya may be granted a brief extension to manage the transition until the Appointments Committee of the Cabinet (ACC) validates the new appointment.