Arvindar Singh Sahney has been appointed as the next chairman of Indian Oil Corporation Limited (IOCL) by the Appointments Committee of the Cabinet (ACC). He held the positions of Designate-Director (Planning & Business Development) at Indian Oil Corporation Limited and Executive Director (Petrochemicals) at IOCL.
Many of the other candidates for this position are surprised by this elevation to the top position. Some of his rivals used nebulous tactics to damage Arvindar Singh Sahney’s reputation by submitting proxy complaints to the PMO and Ministry of Petroleum & Natural Gas. These complaints were carefully investigated by authorities and determined to be unjustified.
Finally, the largest PSU of IndianOil gets its full time head after a span of 15 months. Initially, the tenure of S M Vaidya was extended by 12 months against all precedence, even after attaining the retirement age of 60 years. Later, Director (Marketing), V. Satish Kumar, was given additional charge of Chairman for 3 months.
Indian Oil Corporation Limited is facing unprecedented challenges due to one of the worst quarterly results in its history, due to non payment of under recovery of LPG, inventory loss, not increasing the pump price for MS & HSD and low refining margins.
Get the latest news updates and stay informed with FELA NEWS!
Source: Indian PSU
