New Delhi, March 2 – The Public Enterprise Selection Board (PESB) has once again faced challenges in selecting a suitable candidate for the top position at Bharat Petroleum Corporation Ltd (BPCL). Despite interviewing a dozen candidates, including BPCL’s Director (Finance) Vetsa Ramakrishna Gupta and Director (Refineries) S. Khanna, the board found none fit for the role of chairman and managing director, according to an official PESB order.
This decision comes just two months before the retirement of the current BPCL chairman and managing director, G. Krishnakumar, who is set to superannuate on April 30, 2025. With no clear successor in place, the Ministry of Petroleum and Natural Gas has been advised to consider alternative methods for selection, including the formation of a search-cum-selection committee.
Hindustan Petroleum Corporation Ltd (HPCL) has also been without a chairman since August 31, 2024, after the retirement of Pushp Kumar Joshi. PESB had interviewed eight candidates for the position in June 2024 but found none suitable. A similar situation arose at Oil and Natural Gas Corporation (ONGC) in 2021, ultimately leading to the selection of Arun Kumar Singh in 2022.
A senior official noted that past BPCL leaders, such as Arun Kumar Singh, gained experience across multiple business verticals—including refining, retail, LPG, pipelines, and supply chain—before assuming top leadership positions. Similarly, IOC previously nurtured leaders through cross-functional exposure in business development, producing prominent figures like Subir Raha and Prashanto Banerjee.
"If the search-cum-selection committee does not find suitable in-house candidates, the government may have to look at external talent from the private sector or other public sector undertakings," a source added.
With BPCL and HPCL still without designated leadership, the government faces increasing pressure to ensure stability in the nation’s critical oil sector. The search for competent leaders continues, but the absence of a structured approach to talent development could further complicate future leadership transitions.
This decision comes just two months before the retirement of the current BPCL chairman and managing director, G. Krishnakumar, who is set to superannuate on April 30, 2025. With no clear successor in place, the Ministry of Petroleum and Natural Gas has been advised to consider alternative methods for selection, including the formation of a search-cum-selection committee.
A Repeated Challenge in Oil Sector Leadership Appointments
BPCL is now the fourth company in the oil sector where PESB has struggled to identify a suitable leader since 2021. In May 2023, the board similarly failed to recommend a candidate for the top role at Indian Oil Corporation (IOC), leading to the appointment of Arvindar Singh Sahney through a search-cum-selection committee in November 2024.Hindustan Petroleum Corporation Ltd (HPCL) has also been without a chairman since August 31, 2024, after the retirement of Pushp Kumar Joshi. PESB had interviewed eight candidates for the position in June 2024 but found none suitable. A similar situation arose at Oil and Natural Gas Corporation (ONGC) in 2021, ultimately leading to the selection of Arun Kumar Singh in 2022.
Lack of Multidisciplinary Experience Hindering Appointments
Industry experts suggest that the core issue behind these recruitment challenges is the lack of leaders with broad, multidisciplinary experience. Many candidates are specialists in specific streams, such as refineries or LPG sales, but lack exposure to the diverse functions necessary to lead a complex organization like BPCL.A senior official noted that past BPCL leaders, such as Arun Kumar Singh, gained experience across multiple business verticals—including refining, retail, LPG, pipelines, and supply chain—before assuming top leadership positions. Similarly, IOC previously nurtured leaders through cross-functional exposure in business development, producing prominent figures like Subir Raha and Prashanto Banerjee.
Concerns Over Leadership Development in Oil PSUs
Sources indicate that while PESB and the petroleum ministry are facing criticism for the lack of appointments, oil companies themselves bear responsibility for failing to develop a robust leadership pipeline. HPCL, in particular, has been identified as having a severe lack of multidisciplinary talent, as most of its senior executives have spent their careers in only one or two disciplines."If the search-cum-selection committee does not find suitable in-house candidates, the government may have to look at external talent from the private sector or other public sector undertakings," a source added.
With BPCL and HPCL still without designated leadership, the government faces increasing pressure to ensure stability in the nation’s critical oil sector. The search for competent leaders continues, but the absence of a structured approach to talent development could further complicate future leadership transitions.
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