Government Appoints Interim Chairs for Leading Oil Firms

The government has appointed interim chairmen for Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) as the search for full-time heads continues. Satish Kumar Vaduguri will lead IOC and Rajneesh Narang will head HPCL for three months starting September 1. Former full-time chairmen's terms have ended.

In a strategic move on Wednesday, the government appointed interim chairmen for key state-run oil firms Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) as the quest for permanent heads continues.

Satish Kumar Vaduguri, IOC's Director (Marketing), will take over as interim chairman beginning September 1, replacing Shrikant Madhav Vaidya, who completes his extended term this month. Rajneesh Narang, Director (Finance) at HPCL, has also been designated as interim chairman and managing director from the same date, succeeding Pushp Kumar Joshi, who retires on August 31.

The government has constituted three-member search-cum-selection committees to finalize permanent heads for both IOC and HPCL. The search for the right candidates began earlier this month, and several names, including Sandeep Gupta, are under consideration.

(With inputs from agencies.)