Bhel chief 1st PSU head to get extension post retirement

The Prime Minister's Office (PMO) on Monday decided to grant two years' post-retirement extension to BP Rao, chairman of state-run power gear-maker Bhel, a day before his superannuation. This is the first time ever that the head of a public sector undertaking (PSU) is being given an extension after retirement and changes the rules of succession in state entities by setting a precedent. Rao's case is bound to prompt ministers to use post-retirement extension as a carrot to get their way with chiefs of public sector entities under them. ref: http://timesofindia.indiatimes.com/business/india-business/Bhel-chief-1st-PSU-head-to-get-extension-post-retirement/articleshow/28159430.cms