NEW DELHI: The government has givenGAIL IndiaBSE -0.85 % Chairman and Managing Director B C Tripathi an additional five-year term as head of the state-owned gas utility.
Orders extending Bhuvan Chandra Tripathi's tenure until July 31, 2019, were issued last evening, oil ministry officials said here. His current term was to expire on July 31, 2014.
Tripathi, 53, is the only head of a big public sector company to have won an extension of service in recent times.
Directors, including chairmen, on the boards of public sector enterprises are appointed for five years or until the superannuation age of 60 years, whichever is earlier.
Upon completion of five years, an executive is eligible for an extension if there is time left for retirement. The government had, however, denied extensions to Subir Raha of Oil and Natural Gas Corp (ONGC), P Banerjee of GAIL, Sarthak Behuria of Indian Oil Corp (IOC) and Ashok Sinha of Bharat Petroleum Corp.
Tripathi, who is credited with turning GAIL into an aggressive gas marketing and transmission company, was considered the youngest chairman of a Navaratna PSU when he took over at GAIL at the age of 49 on August 1, 2009.
Tripathi had applied for the Chairman's post at ONGCBSE -0.07 % and IOCBSE -0.90 %, but did not go for the interviews conducted by government headhunters Public Enterprises Selection Board.
Prior to taking over as CMD, Tripathi had served as Director of Marketing at GAIL from July 2007 to July 31, 2009.
A mechanical engineering graduate from NIT, formerly known as Moti Lai Nehru Regional Engineering College, Allahabad in 1982, Tripathi started his career with ONGC.
He joined GAIL India during its inception in 1984 and was one of the initial team members involved in the construction and commissioning of the HVJ pipeline system. He has over 31 years of experience in the gas sector.
He also headed the prestigious Dahej-Vijaipur Pipeline project, which won an award from the International Project Management Association in Germany.