The Public Enterprises Selection Board (PESB) has invited applications from candidates for the post of chairperson and managing director of Shipping Corporation of India Ltd.

The Public Enterprises Selection Board (PESB), the government’s head-hunter, has invited applications from candidates for the post of chairperson and managing director of privatisation-bound Shipping Corporation of India Ltd (SCI).

The current CMD, who is also holding the additional charge of Director (Finance), will step down from the company on May 31 next year on superannuation.

Atul Ubale, Director (Bulk Carriers and Tankers) and B K Tyagi, Director (Liner and Passenger Services) at the firm are the top contenders for the post.

PESB typically advertise for director level selection in a public sector undertaking at least six months ahead of the post falling vacant to factor in the time taken for the completion of the process with the final nod from the Appointments Committee of the Cabinet.

The head-hunter’s decision to proceed with the selection indicates the government’s intent to put a succession plan in place so that there is no leadership vacuum if the planned privatisation process of SCI is delayed, says industry sources.

SCI also doesn’t have a full-time director to oversee the technical and offshore services business.

Source : The Hindu Businessline