M K Surana appointed new HPCL Chairman

M K Surana will be the new Chairman and Managing Director of Hindustan Petroleum Corp Ltd (HPCL), India's third largest oil marketing company.

Government headhunter Public Enterprise Selection Board (PESB) selected Surana for the top job at HPCL after interviewing a dozen candidates yesterday.

Surana, 53, is currently the CEO of Prize Petroleum Co Ltd, the upstream oil exploration arm of HPCL.

He will replace Nishi Vasudeva on her retirement at the end of March 2016.

PESB in a notification said it interviewed 12 candidates including HPCL Director (HR) P K Joshi and STC Chairman Khaleel Rahim.

Four HPCL Executive Directors -- SP Gupta, GS Ganesh, S Jeyakrishnan and Ajit Singh were the other candidates interviewed.

"PESB recommended the following name for the post of CMD, HPCL: M K Surana," the notification said.

Non-controversial and low-profile Surana was selected after PESB in the first round of interviews on August 6 found none of the nine candidates appearing suitable for the job.

Those appeared for the interview in August included Joshi. Surana had not appeared for the interview then.

Surana is Executive Director with HPCL since September 2012 who has been posted as Chief Executive Officer at Prize Petroleum.

A Mechanical Engineer, he is a refineries man and had served as the General Manager of Projects for Vishaka Refinery of HPCL.

Officials said his candidature will now be vetted by the Appointments Committee of the Cabinet headed by Prime Minister after getting anti-corruption watchdog CVC and CBI clearance.

He will get a five year term which can be extended up to his retirement age of 60 years in April 2022.