Zohra Chatterji not only has the distinction of being the first woman chairman and managing director of Coal India Ltd (CIL), she has done what any government official will rarely do. The CIL board under her decided to put its fiduciary duty above a directive from none other than the Prime Minister’s Office (Full story).
An officer of the 1979 batch of the Indian Administrative Service, Chatterji is not the permanent chairman but an additional secretary in the ministry of coal who is officiating till a new incumbent is in place. Belonging to the Uttar Pradesh cadre, she assumed the CIL chairmanship only in February after joining the ministry in September last year.
It is not common to see women officers in the high-stake ministries dealing with coal, power and petroleum, but Chatterji has become a talking point in the industry. Though part of the reason for the board to take a tough stand could be a pressure from the company’s other shareholders and independent directors, Chatterji’s role in protecting the company’s interest has been crucial.
