Government Restructures Boards of THDC India and NEEPCO

The government has sanctioned the overhaul of the boards for THDC India and NEEPCO, key subsidiaries of state-owned power titan NTPC. The Ministry of Power's proposal includes appointing a non-executive chairperson and redesignating the CMD to Managing Directors (MD). The move aligns with extant public enterprise directives.

Notably, the CMD of NTPC will serve as the non-executive Chairperson for both entities, with MD roles filled through the Public Enterprises Selection Board and Appointments Committee of the Cabinet. The roles of Director for Technical, Finance, and Personnel have been abolished, streamlining the board's functionality.

The restructuring decreases board members from 14 to 7, with a mix of government/NTPC nominee directors and independent directors. This new board structure aims to enhance decision-making efficiency, especially concerning significant financial deliberations involving NEEPCO and THDCIL.

(With inputs from agencies.)