Public Enterprise Selection Board (PESB) has selected Shashi Shanker as the new Chairmen and Managing Director of ONGC, a multinational oil and gas company. He will succeed Dinesh Kumar Sarraf who will retire on 30th October upon attaining superannuation age. 

Shanker who is currently the Director at ONGC will take charge of his new position from 1st October 2017. Shanker was selected by PESB from among 9 other candidates. His selection will now be evaluated by the Ministry of Petroleum and Natural and Gas, after obtaining clearance from the Central Vigilance Commission and the Central Bureau of Investigation. After this, his appointment will be recommended to Appointments Committee of the Cabinet which is headed by the Prime Minister Narendra Modi.

Shanker has been awarded various awards like Young Engineer Award and Drilling Engineer of the Year 1998. He completed his graduation in Petroleum Engineering from Indian School of Mines, Dhanbad, and MBA with specialization in financial management from IGNOU. He further did MBA in General Management from IIM, Lucknow and a Leadership Development Programme from ISB, Hyderabad.