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Extension in CMD's tenure scuttles merger?

By IndianMandarins- 18 May 2017
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extension-in-cmds-tenure-scuttles-merger Amid the ongoing talks about the merger of Hospital Services Consultancy Corporation Limited (HSCC) into a bigger Central PSU, the services of its CMD Gyanesh Pandey has been extended till his retirement in July 2021. His tenure was scheduled to be over in July this year. Until a few months back, Pandey had been trying to search vacancies in PSUs for the post of Director so that he could make space for himself post-merger. Reportedly, ACC order to this effect may shortly be published. Power corridors were abuzz that the merger process was a roadblock in his career prospect but the extension came as a great relief. Still, there are several insiders who are still not aware of the development. Sources said HSCC is now unlikely to be merged with any other CPSE as extension in the tenure of CMD till 2021 has further scuttled the avenues for merger. And it appears 'logical' in view of the CMD getting an extension till retirement.  

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