Dinesh K. Sarraf will be the new chairman and managing director of Oil and Natural Gas Corp (ONGC), the nation's most profitable company, PTI reported. Sarraf, who is currently managing director of ONGC's overseas arm, ONGC Videsh Ltd, has been selected to replace Sudhir Vasudeva in February-end next year.

Government headhunter Public Enterprise Selection Board (PESB) selected Mr. Sarraf, who turns 56 next week, from among four candidates who appeared before it for interviews today. "PESB recommended the following name for the post of chairman & managing director, ONGC Limited - D.K. Sarraf," it said on its website.

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