The Hindu Business Line : BSES board to meet again to decide on CMD choice

The board has already met twice and the third meeting would lay down concrete steps and also decide whether the person would be an insider or not, according to Mr K.H. Mankad, Director (Finance), BSES.

Mr Mankad said the task would be simplified considerably if the board were to decide to appoint a person from within the organisation. However, if it were to think a person from outside BSES should come in at the top slot, a nomination committee would be given the task. The panel would search for a candidate and a time-frame would also be fixed, he told Business Line on the sidelines of a seminar `Corporate Governance - best practices', organised by Assocham.

Asked whether the emergence of the Reliance group as the major stakeholder in the company would change its status to a promoter-run concern, Mr Mankad said it was not likely to happen. He said though Reliance had declared plans of treating BSES as its investment vehicle in the power sector, it did not mean that the fundamental professional nature of BSES would change.

Addressing the seminar, he said an ideal board should comprise individuals with specific expertise that could contribute to their functioning as a team. ''The CEO should be assisted by an organiser, analyst, innovator, person skilled in general aspects, and expert on human resources. A combination of individuals skilled in each of these areas would be an ideal board,'' he said.

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