Will CMDs of public sector companies be given a fixed 3-year-tenure?

A FEW top bureaucrats’ posts such as cabinet secretary, home or defence secretary, has a fixed tenure of two years. Their retirement age does not matter as long as the concerned officer is appointed before he attains 60. Now, the government is planning to have a fixed tenure of three years to CMDs and directors of…
public sector companies so as to have continuity in decision-making, according to an article published in The Times of India.
According to the news report, petroleum minister Veerappa Moily is one of the supporters of the new idea, and he has even written to the prime minister arguing why CMDs and directors of PSUs should be given fixed tenures.
Once such a rule is made, the retirement age of CMDs in some cases may go up to 63 years.
It has been argued by a section of experts that frequent change of leadership in PSUs often creates problems in taking major decisions. A number of top central public sector enterprises particularly in the field of infrastructure have been undertaking massive capacity addition programmes, and are also scouting new projects in foreign soils. And that requires a steady leadership of those companies.
The report further said that the proposal also includes setting up of a specialized body within the Public Enterprises Selection Board (PESB) for choosing CMDs of Maharatna and Navaratna companies. The delay in selection of CMDs at times slows down the decision-making process.

Action and Appointments
a) Appointments Committee of the Cabinet has approved the proposal tor appointment VS Senthil, a 1984 batch Kerala cadre IAS, presently in the cadre as joint secretary in the Fourteenth Finance Commission.
b) Ms Tripti Gurha, a 1993 batch IRTS officer, who was recommended for central deputation by the ministry of railways, has been selected for appointment as director in the department of higher education under the ministry of human resource development for a period of five years.
c) Manoj Kumar Dwivedi, a 1997 batch Jammu and Kashmir cadre IAS, has been appointed as director in department of personnel and training (DoPT).
d) Sudha Devi M, a 2003 batch Himachal Pradesh cadre IAS, who has been on a compulsory wait in the health ministry, has been appointed as deputy secretary in the ministry of labour and employment.