Amit Kumar Appointed Next CMD of AI Assets Holding Limited

Amit Kumar has been selected by the Public Enterprise Selection Board (PESB) for the role of Chairman & Managing Director (CMD) of AI Assets Holding Limited (AIAHL), a Schedule ‘B’ Public Sector Undertaking (PSU). Currently serving as the Executive Director and Asset Manager at ONGC, Kumar was chosen from seven candidates. His appointment awaits necessary clearances and approval from the Appointments Committee of the Cabinet (ACC). This selection highlights ongoing efforts to fill key leadership positions within PSUs, as evidenced by the PESB’s recent advertisements for several critical vacancies across various organizations.

Current Role and Selection Process

Amit Kumar holds the position of Executive Director Asset Manager at ONGC, specifically at Jorhat. His selection follows a competitive interview process conducted by PESB, where seven candidates were evaluated. Pending the requisite approvals, Kumar will step into the CMD role at AIAHL, which is currently unoccupied.

Vacancies in Other PSUs

In addition to Kumar’s appointment, PESB has announced several other significant vacancies. These include the position of Director (Technical) at NHPC Ltd, which has been vacant since August 8, 2024, with applications open until November 11, 2024. Other positions include Director (Production & Marketing) at Mishra Dhatu Nigam Ltd (MDNL) and Director (Way & Works) at Konkan Railway Corporation Ltd (KRCL), with application deadlines between November 4 and 11, 2024.

Role of AI Assets Holding Limited

AI Assets Holding Limited is a Special Purpose Vehicle (SPV) established by the Government of India to provide unified asset holding services, as outlined in its Memorandum of Association. Kumar’s leadership is expected to guide AIAHL towards achieving these objectives effectively.

AI Assets Holding Limited: Key Points

Type: Schedule ‘B’ Public Sector Undertaking (PSU) in India.

Establishment: Formed as a Special Purpose Vehicle (SPV) by the Government of India.

Objective: Provides unified asset holding services as outlined in its Memorandum of Association.

Leadership: Amit Kumar has been selected as the new Chairman & Managing Director (CMD), pending clearances and approval.

Current Status: The CMD position was vacant before Kumar’s selection by the Public Enterprise Selection Board (PESB).

Role: AIAHL is expected to manage and optimize asset holdings for effective service delivery.