B. Ashok is poised to become the next Chairman of Indian Oil Corporation Ltd (IOC).
His candidature to head the country’s largest refiner and oil-marketing company has been given a go-ahead by Public Enterprises Selection Board (PESB), sources told Business Line .
Once PESB shortlists, it sends its recommendations to nodal Ministry (in this case the Ministry for Petroleum & Natural Gas). The Ministry then processes it further (including clearance from Central Vigilance Commission) and then forwards it to the Appointment Committee Cabinet for formal approval.
The PESB held interviews for the post on Wednesday. Ashok would take over after incumbent Ranbir Singh Butola retires in May 2014.
The 56-year-old is currently posted as Executive Director (Retail Sales) in the Mumbai office of the same organisation.