(PTI)
Hindustan Petroleum Corp Ltd (HPCL) Chairman and Managing Director Mukesh Kumar Surana will continue to hold his designation if the firm’s new promoter, ONGC is to follow the Coal India Ltd-model for governance of subsidiaries.
ONGC last week completed acquisition of government’s 51.11 per cent stake in HPCL for Rs 36,915 crore. HPCL is now a subsidiary of ONGC and it has been speculated that Surana will lose the Chairman’s tag and would be reduced to Managing Director who would report to ONGC Chairman and Managing Director
