Ramasamy Jeevanandam to Step Down on March 31
In a stock exchange filing on Wednesday, February 25, the company said that Ramasamy Jeevanandam will resign as Managing Director effective at the close of business hours on March 31, 2026.The company cited health issues and other personal reasons for his resignation. It acknowledged his long association with the organisation, highlighting that he served Hindustan Oil Exploration Company for over 11 years. Of this, more than eight years were spent as Executive Director and Chief Financial Officer, followed by the last two years as Managing Director.
The company credited him for his leadership and contributions during his tenure.
Baroruchi Mishra Appointed as Managing Director & CEO
Following the resignation, the board has approved the appointment of Baroruchi Mishra as Managing Director and Chief Executive Officer for a term of three consecutive years, effective April 1, 2026. His appointment is subject to shareholder approval.The company stated that the Nomination and Remuneration Committee recommended Mishra’s appointment.
As an interim measure, the board has also approved a change in Mishra’s designation to Non-Executive Non-Independent Director with effect from February 25, 2026, after he relinquished his independent status. This change will also require shareholder approval.
Extensive Experience in Oil, Gas and New Energy
Baroruchi Mishra, aged 58, brings over 35 years of experience across the oil and gas and new energy sectors. He currently serves as Partner and Group CEO of NET Enterprise Group, which delivers EPC, EPCM, digitalisation and engineering services for global energy projects.According to the company, Mishra was shortlisted by the Public Enterprise Selection Board in 2022 for the role of Chairman and Managing Director of ONGC.
HOEC Share Price Update
As of 2:15 pm, shares of the company were trading 0.43 percent higher at ₹133.27. Over the past year, the stock has declined 30.85 percent.The leadership transition comes as the company prepares for a new phase under fresh management from April 2026.
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