Rural Electrification Corporation (REC), a Navaratna company under the administrative control of the Ministry of Power has given additional charge of Chairman and Managing Director to Ajeet Agarwal.
Agarwal has been holding the post of Director Finance of REC since August 2012. He will take over the role of Chairman and MD from PV Ramesh.
The additional charge has been given to Agarwal for three months, till 5 June, 2019. A communiqué from REC stated, “Ajeet Kumar Agarwal, presently Director (Finance), REC has been assigned the additional charge of the post of Chairman and MD, REC for a period of three months, up to June 5, 2019 or until further orders, whichever is earlier.”
Agarwal is also a Fellow Member of the Institute of Chartered Accountants of India (ICAI) with 35 years of experience in Public Sector Undertakings (PSUs).
The development is likely to have caused as a result of the proposed takeover by Power Finance Corporation.