Captain Binesh Kumar Tyagi has been picked by the Public Enterprises Selection Board (PESB) to be the next Chairman and Managing Director at the state-run carrier Shipping Corporation of India Ltd (SCI).

Captain Tyagi is currently the director looking after the liner and passenger services division at SCI which is in the process of being privatised by the government. PESB picked Captain Tyagi on Friday after interviewing three shortlisted candidates that included two from SCI and one from Mahanagar Telephone Nigam Ltd.

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

No leadership vacuum

The head-hunter’s decision to proceed with the selection of a new CMD 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.

In January, PESB picked CI Acharya for the role of the Director (Finance) at SCI. Acharya is currently a Chief General Manager at Mangalore Refineries & Petrochemicals Ltd. The selection of Captain Tyagi and Acharya will have to be approved by the Appointments Committee of the Cabinet (ACC).

Captain Tyagi graduated from Meerut University and joined SCI in 1990 as a trainee nautical officer and sailed on board various ships in different ranks including as master. In 2004, he came onshore and served in the technical, vetting, chartering and fleet personnel departments of SCI.

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