Government Seeks New ONGC Chairman, Eases Eligibility Criteria

New Delhi: The government has begun the search for a new ONGC chairman to succeed the incumbent, while easing the eligibility criteria for the post.

The Public Enterprises Selection Board (PESB) has invited applications until the end of the month for the position, which will fall vacant on December 7 when the incumbent, Arun Singh, retires from the country’s largest oil and gas producer.

It has removed the requirement that candidates must superannuate at 60 and instead provided for a fixed three-year tenure.

“After a review of the performance of the incumbent at the end of three years, the period of employment can be extended by two years. Any employment or extension of tenure beyond the age of 60 shall be on contract basis,” the PESB said in the job advertisement.

The maximum age for applicants has also been raised to 59 years. Typically, candidates for chairman or director positions at state-owned companies must be below 57 or 58 years of age at the time of application and are required to retire on attaining 60, even if they have not completed their full tenure.

The current chairman, Arun Singh, took charge of ONGC in 2022 after retiring as chairman of Bharat Petroleum Corp Ltd (BPCL). For his appointment, the government relaxed the conventional eligibility criteria and opted for a search-cum-selection process, arguing that ONGC needed an outsider to revitalise the organisation.

Candidates applying for the post must be in regular employment with the government, a central or state public sector enterprise, or a private sector company with an annual turnover of at least Rs 10,000 crore. Applicants from state government enterprises or private companies must be serving on the board of their organisations, while government candidates must hold a position equivalent to additional secretary to the government of India or lieutenant general in the army.