OCI, senior exec can be appointed as IIM director

An overseas citizen of India (OCI) with requisite qualifications can become the director of any of the 20 Indian Institutes of Management (IIMs), the new rules finalised for the implementation of the IIM Act, say.

A senior corporate executive with at least 15 years of experience in the industry can also be appointed as the director of any of the IIMs.

“The person proposed to be appointed as the director shall be an Indian citizen or an overseas citizen of India (OCI). The applicant shall be a distinguished academic with PhD or an equivalent degree, having at least 15 years of teaching or research experience, and shall have worked as a full-time professor at a reputed institution for at least seven years; or shall have industry experience at a higher level for at least 15 years,” the IIM rules stipulate.

No person will be appointed as the director of any of the IIMs for more than two consecutive terms, it also provides.

The rules, finalised by the Human Resource Development (HRD) ministry months after the enactment of the IIM Act, will soon be notified in an official gazette.

“The age of the applicant for the post of director shall not be more than 60 years as on the first day of January of the year of advertisement for the post,” the rules stipulate.

A director, who will function as the chief executive officer of the institute, will have a five-year term in office from the date of appointment.

“The director shall hold office for the tenure of appointment as specified in the Act or till he or she completes the age of 65 years, whichever is earlier,” the rules provide.

The board of governors of each of the IIMs will appoint the directors of the respective institute.

A search-cum selection committee, to be constituted by the board, will send a panel of names for consideration to the board.