ONGC board restructured on McKinsey recommendations

The Oil and Natural Gas Corporation (ONGC) Board of Directors is being restructured by combining two directorships into one.

A new Director (Strategy & Corporate Affairs) role has also been created. The ONGC Board of Directors now consists of six directors representing exploration, onshore operations, offshore operations, finance, human resources, and technical and field services.

The redesign is modelled around the Organization Transformation Project (OTP) proposed by consulting company McKinsey. The majority of the current board roles were established in 2001 as part of a McKinsey OTP strategy.

The new Director will focus solely on new enterprises such as renewable energy ventures, downstream industries such as oil refining and petrochemicals, and LNG.