{Strategy} PSU-PSEB: CEO of a top private sector company apply for the post of Member, PESB
- Will CEO of a top private sector company apply for
the post of Member, Public Enterprises Selection Board (PESB), a body
responsible for selection of PSUs’ top management?
- The government, while looking for a new Member who
enjoys the same salary of a Union government secretary, says in its circular
dated December 5, 2012: “A distinguished serving or former chief executive of a
public sector or private sector or joint sector enterprise” can apply for the
post.
- Though the government allows private sector CEOs to
apply for some key sarkari positions, the reality is very few do apply, and the
man who ultimately gets selected turns out to be an ex-government official.
- After PJ Thomas’ appointment as Chief Vigilance
Commissioner (CVC) was stricken down, the Supreme Court last year allowed
“eminent private sector person” to apply for the post of CVC. It’s another
matter that none of the private individuals applied for the post could make
into the coveted position.
- Similarly, the government this year for the first
time allowed private sector CEOs to apply for the post of chairman, National
Highways Authority of India (NHAI). It is widely believed that a section in the
Planning Commission lobbied hard for a private sector CEO grabbing NHAI’s top
job. But ultimately, a former bureaucrat and ex-DIPP secretary RP Singh finally
made into the position.
- PESB’s Member gets a fixed term of three years or 65
years of age whichever earlier. The minimum age to apply for the post is 55
years.
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