New Delhi: Shashi Shanker, former chairman and managing director of Oil and Natural Gas Corporation (ONGC), has been appointed as an independent director on the board of Adani Total Gas Ltd (ATGL), the company said in a regulatory filing.
Shanker, who superannuated as the head of India’s largest oil and gas producer on March 31, 2021, was appointed to the board of ATGL on May 4.
“This is to inform that, on the recommendation of Nomination & Remuneration Committee, the Board of Directors of the company have appointed Shashi Shanker, as an Additional Director (Non-Executive, Independent) of the company,” the filing said.
He was chairman and managing director of state-owned ONGC from October 1, 2017, to March 31, 2021.
ATGL is a joint venture of billionaire Gautam Adani-led infrastructure-to-energy conglomerate and Total of France for city gas business entailing the sale of CNG to automobiles and piped natural gas to households and industries.
The company board is headed by Adani and includes his nephew Pranav Adani as director. Jose Ignacio Sanz Saiz and Olivier Sabrie are two nominee directors of the French energy giant, according to the company’s website.
“He (Shashi Shanker) is a Petroleum Engineer from Indian Institute of Technology (ISM), Dhanbad and holds an MBA degree with a specialisation in finance,” the company said.
Shanker, 61, was also President of Global Compact Network India (GCNI), the Indian local network of the United Nations Global Compact (UNGC) which has been providing a robust platform for Indian businesses, academic institutions and civil society organizations to embrace the ten principles of Global Compact Network, United Nations, it added.
His appointment is subject to the approval of the shareholders.
ATGL and its joint venture firm hold a city gas licence for 52 geographical areas, spanning 124 districts and covering 14 per cent of India’s population. It has 334 CNG stations and supplies gas to 5.64 lakh household kitchens. (Source: Deccan Herald)
