Pvt sector executives can also apply for Coal India CMD post

Keen to turnaround fortunes at world's largest coal producer, the Government has invited professionals from the private sector along with those from PSUs to apply for the job of Chairman and Managing Director of Coal India Ltd.

Coal India is without a full-time chairman since May-end when S. Narsing Rao resigned. A K Dubey, additional secretary in Ministry of Coal, is officiating as Chairman till a full-time chief executive is appointed.

Government headhunters Public Enterprise Selection Board last week invited application to fill the vacancy. But unlike past when the process mostly encouraged executive from public sector firms and government to apply, an invitation to private sector executives too has been extended.

PESB in the advertisement called on private sector executives from both listed and unlisted companies with a turnover of Rs 5,000 crore to apply.

"Private Sector Executives must be working as whole time Director/President/CEO in a listed company whose average annual turnover during the last three financial years (2011-12, 2012-13 and 2013-14) was at least Rs 5000 crores," it said.

For executives from unlisted companies, PESB added a clause that the average annual turnover of the Group to which it blocks should be at least Rs 10,000 crore and the holding company or at least one of the subsidiaries of the Group should

be listed on a Stock Exchange.

Coal and Power Minister Piyush Goyal has been keen on roping in private sector professionals for PSUs under his remit as he looks to meet the ambitious target of providing power-to-all.

"I cannot offer them the sort of salary they may get elsewhere, but I will give them the challenge and the freedom to turn these companies around," he had said July.

Goyal consulted the Prime Minister's Office (PMO) and Cabinet Secretariat for hiring of private sector executives and PESB advertisement for Coal India was a result of this exercise, officials said.

The same criteria of inviting private sector talent, however, has not been used in other PSUs. The advertisement for the post of Chairman and Managing Director of Powergrid Corporation of India Ltd, issued on the same day as Coal India ie September 23, calls for applications from public sector executives and government officials.

Even in case of Chairman and Managing Director, Neyveli Lignite Corporation Ltd (NLC), advertisement for which was issued on September 18, no specific call or invitation was issued for private sector professionals.

Applications in case of Coal India has been invited by October 29 and private sector executives have to provide "the details of job handled in the past with details/particular references.