The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Steel for the appointment of Dr. Ashok Kumar Panda as Chairman & Managing Director (CMD) of Steel Authority of India Limited.
Dr. Panda, who is currently serving as Director (Finance) at SAIL, will take over as CMD from the date of assumption of charge. His appointment will be effective until the date of his superannuation on December 31, 2029, or until further orders, whichever is earlier.
The appointment is expected to bring much-needed stability to the steel Maharatna PSU, which had been in a state of uncertainty following the abrupt and unceremonious exit of former CMD Amarendu Prakash. Notably, Prakash holds the distinction of being the first chairman of SAIL to demit office without completing his tenure—an unusual development that had raised concerns across the sector.
