Nishi Vasudeva, 57, is currently Director (Marketing) in HPCL and will take over as the Chairman and Managing Director of the company when incumbent Subir Roy Choudhury retires on attaining supperannuation age on February 28 next year.
Government headhunter Public Enterprise Selection Board (PESB) selected her after interviewing seven shortlisted candidates including P K Joshi, Director (Human Resources), HPCL.
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"PESB recommended the following name for the post of Chairman & Managing Director, HPCL - Ms Nishi Vasudeva," it said on its website.
She had created history in July 2007 when she became the first women ever to make to a the board of cash-rich oil PSU. And after today's selection, she will be the first women to head a Navaratna public sector unit.
The PESB recommendation will now go the Oil Ministry and once Oil Minister M Veerappa Moily concurs, CVC and CBI clearances will be sought. Upon being cleared, her candidature will then be forwarded to the Cabinet Committee on Appointments (ACC).
An IIM-Kolkata passout, Vasudeva was previously Executive Director (Marketing-Coordination) in HPCL before she came to the board of India's third biggest oil PSU.
Beginning her career in the oil industry with Engineers India Ltd, she has a wide experience spanning over 36 years in various streams like marketing, corporate, strategy and planning and information system.
She served as Executive Director of LPG at HPCL and was also Chairperson of Bhagyanagar Gas Ltd.