Top management changes at HAL continue
31 Oct 2011
Bangalore: Top-level management appointments at aerospace giant Hindustan Aeronautics Ltd (HAL) continues with positions being filled up following retirement of senior personnel and also because of unforeseen developments.
The ministry of defence effected one more change at HAL with the appointment of Ashok Kumar Mishra as director (finance). His appointment comes almost eight months after his predecessor D Shivamurthy was removed unceremoniously from the position after the conclusion of the prestigious AeroIndia 2011.
Shivamurthy had been provided an extension till 2016 though he was due to retire in October 2010. However, in the last week of February, he was relieved of his responsibilities by the ministry of defence.
The move came immediately after Shivamurthy announced that HAL may go in for an initial public offering (IPO). This was criticised by the employees union, which had held protests.
The current chairman, Ashok Nayak, is also due to retire on 31 October.
The post of director (corporate planning and management) has also fallen vacant following the mysterious death of squadron leader (retd) Baldev Singh. His alleged suicide came barely a few months after his appointment.
Nayak will be replaced by outgoing chairman and managing director of Pawan Hans Helicopters Ltd, RK Tyagi, who was recommended by the Public Enterprises Selection Board for the top post.