Board, CEO, and (C)MD Roles are Rapidly Changing in the Global Minerals, Oil, and Gas Integrated (MOGI) Industries. Uncertain Geopolitical-Business-Finance Scenarios are Forcing the Shift. Traditional Paths, Skills and Expertise are Getting Re-adjust

Culturally and historically, there is a prevailing weakness in the MOGI companies about the distinct responsibilities of Chief Executive Officer (CEO), Board, and Chairman of the board in running the company. As a result, we see a power imbalance. In the usual relationship, the CEO will report to the Chairman of the board, and the Chairman of the board will report both to the board and the shareholders. In the public sector organizations in India, the Chairman who is also known as the Chairman and Managing Director, shall report to the Board and the Board is supposed to explain to the shareholders including the central government who may be stakeholders. In today’s competitive environment this relationship requires competence, effectiveness and efficiency, and that in many organizations both public and private, needs a reset. This article deals with these aspects.