The non-performing heads of Public Sector Units (PSUs) in the state would now have to look for other opportunities as the Industries Department is planning a major revamp.
A list of highly qualified professionals would be prepared to replace the existing managing directors. Public Sector Restructuring and Internal Audit Board (RIAB) has been entrusted with the task of preparing a panel of experienced and qualified hands.
It has also been decided to appoint only those who are between the age group of 40 to 50 years and having a BTech degree with MBA and 15 years of experience. It is also learnt that around 12 managing directors of PSUs would be replaced immediately after the list is prepared. RIAB secretary K Padmakumar said that the managing directors of the companies will be allowed to continue depending on their performance. The performance of each company would be evaluated for a year and a decision will be taken whether to replace the MDs or allow them to continue in the post. There are several PSUs which are poor performers and supported by the government for social and political reasons.
