Criteria for appointment of non-official (Independent) Directors in Central PSEs (DPE O.M. No. 18(10)/2003-GM-GL-75 dated 10th November, 2005)
Criteria for appointment of non-official (Independent) Directors in Central PSEs.
The undersigned is directed to refer to this Department’s O.M. of even number dated 11th March, 2004 wherein the criteria for appointment of part-time non-official Directors in Central PSEs were laid down.
2. The criterion relating to ‘Experience’ has been reviewed by the Government and para 3(b) of the above referred OM has been modified as under:-
“(b) Experience: Not less than 10 years at the level of Joint Secretary and above in the Government; CMD/MD in Corporate Sector/PSE; Professor level in an Academic Institution or professionals of repute like eminent Chartered Accountants/ Cost Accountants at the level of Directors of Institutes/ Heads of Department; persons of eminence with proven track record from Industry, Business or Agriculture.”
3. All the administrative Ministries/Departments are requested to take note of the above modifications in the criteria for appointment of non-official (Independent) Directors for guidance and compliance.