Business Standard

Public sector chiefs deserve better

Quarterly appraisal of ONGC's new chairman beats logic

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Shyamal Majumdar
The petroleum ministry’s reported proposal to appoint Shashi Shanker as chairman and managing director of ONGC with just a year’s validity is extraordinary. It is a classic example of all that is wrong with senior-level appointments in public sector companies. According to a report in The Indian Express, Petroleum Minister Dharmendra Pradhan has sought the approval of the Appointments Committee of the Cabinet (ACC) for Shanker’s appointment initially for a year, during which his ministry will conduct quarterly appraisal of his performance before seeking a fresh mandate for further employment. In defence of his decision, the minister has cited exploration
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