Alka Mittal becomes the first woman to head ONGC as chairman and managing director
The public sector firm had been functioning without a chief since the retirement of its incumbent CMD Subhash Kumar on 31 December, 2021
Energy major Oil and Natural Gas Corporation's (ONGC) director of Human Resources, Alka Mittal, has been given the additional charge of chairman and managing director (CMD).
The appointment in the State-run company was announced today. With this appointment, Mittal becomes the first woman ever to head ONGC as its CMD.
#ONGC Director (HR) Dr @AlkaMit26713758 has been entrusted with additional charge of ONGC CMD, making her the first woman to head the #Energy major . @CMD_ONGC@PetroleumMin@HardeepSPuri@Rameswar_Telipic.twitter.com/3yCJvkT2dT
— Oil and Natural Gas Corporation Limited (ONGC) (@ONGC_) January 3, 2022
The public sector firm had been functioning without a chief since the retirement of its incumbent CMD Subhash Kumar on 31 December.
When an incumbent director retires, the order to replace the person is usually issued two-three days before the superannuation, which hadn’t happened for ONGC, leaving the company without a head for over 48 hours.
A post graduate in Economics, MBA (HRM) and Doctorate in Commerce and Business Studies, Mittal had joined ONGC as a graduate trainee in 1985, as per MoneyControl. Before joining as director (HR), Mittal held the charge of chief skill development (CSD) of the company. As CSD in-charge, she streamlined the activities and brought in uniformity in the working of the skill development centres of ONGC, as per the report.
She also implemented National Apprenticeship Promotion Scheme (NAPS) in ONGC.
True love can happen in minutes. And so LIC discovered that it was dying for ONGC's shares just before the embers of the auction process were dying.
What is also worrying is ONGC's large cash balance of Rs 27,400 crore which could used to dole out higher dividends to the government, its majority owner.