New Delhi: The corporate corridors are abuzz with speculation regarding the potential extension of the tenure of a Public Sector Undertaking (PSU) chairman, whose term is nearing its end. Some claim that a two-year extension is under consideration, while others suggest it may only be for one year. However, certain reports indicate that further extensions seem unlikely at this stage.
This is the same chairman whose appointment had previously sparked significant discussion in corporate circles. Industry experts opine that this individual is known for engaging in internal politics within the company. They argue that a company, especially one backed by public funds, should focus solely on work and progress, rather than becoming an arena for political maneuvering.
As the saying goes, “As many mouths, so many opinions.” NewsIP has delved into these claims through its sources to uncover the truth behind the corporate grapevine. Is there indeed a process underway for the chairman’s extension? Has any file been moved in this regard?
According to our sources, as of the time of writing this report, no formal process has been initiated for the extension of the Chairman-cum-Managing Director’s (CMD) tenure. It would be premature to comment on whether such a step will be taken in the future.
Meanwhile, the process to fill the CMD position has already begun. The appointing authority has issued an advertisement, applications have been received, and sources confirm that the shortlisting of candidates has also been completed.
It may be recalled that the last appointment to this post was marked by considerable upheaval. If an extension is granted this time, it remains to be seen how the corporate world will perceive this development.
(Note: NewsIP verifies the authenticity of this report but clarifies that it is based on reliable sources and does not include any claims or assumptions.)
