Hindustan Oil Exploration Company Limited (HOEC) has officially confirmed the leadership transition announced on Wednesday, February 25, with Managing Director Ramasamy Jeevanandam stepping down effective March 31, 2026. According to the company's latest regulatory filing, the board meeting on February 25, 2026, formally confirmed Jeevanandam's resignation due to health issues and other personal reasons. The board meeting, which commenced at 11:45 AM and concluded at 1:05 PM, addressed the leadership succession plan initially announced in January 2026. Jeevanandam has served HOEC for over 11 years, including more than 8.5 years as Executive Director and CFO, followed by the last two years as Managing Director. The changes were approved by the Board on February 25, 2026, and are subject to shareholder approval.
The board has officially approved the appointment of Baroruchi Mishra as Managing Director & CEO for a three-year term effective April 1, 2026, subject to shareholder approval. As reported by CNBC TV18 and ETEnergyworld, Mishra's appointment has been recommended by the Nomination and Remuneration Committee. In the interim, the board has approved a change in Mishra's designation to Non-Executive Non-Independent Director starting February 25, 2026, following his relinquishment of independent status. Concurrently, Dr. Jagadip Narayan Singh, former Chief Secretary of Gujarat, has been appointed as Additional Director (Non-Executive Independent) & Chairman for a five-year term effective January 23, 2026, subject to shareholder approval.
Baroruchi Mishra, 58, brings over 35 years of experience in the oil & gas and new energy sectors. According to HOEC, he currently serves as Partner and Group CEO of NET Enterprise Group, which provides EPC, engineering, digitalisation, and energy transition services globally. The company noted that Mishra was also shortlisted by the Public Enterprise Selection Board in 2022 for the position of Chairman and Managing Director of ONGC. As per ETEnergyworld, Mishra is described as a techno-commercial executive with extensive experience across the oil & gas and new energies sectors. His focus on oil and gas, including energy transition aspects, may influence future strategies for HOEC.
The company has also appointed Jagadip Narayan Singh as Additional Director (Non-Executive Independent) & Chairman with effect from January 23, 2026, for a five-year term, subject to shareholder approval. Singh is a retired IAS officer of the Gujarat cadre and former Chief Secretary of Gujarat. He has held senior positions in finance, revenue, and administration, and has led state entities in Gujarat, including GSPC, GSPL, and Gujarat Gas. He also served as Member (Finance) at the National Highways Authority of India. Dr. Singh's administrative experience could enhance corporate governance and strategic oversight for HOEC.
Shares of Hindustan Oil Exploration Company Limited were trading 0.43% up at ₹133.27 as of 2:15 pm on Wednesday. As reported by CNBC TV18, the stock has declined 30.85% in the past year, reflecting broader market challenges in the energy sector. The company recently received a GST penalty order of approximately ₹65.81 lakh related to royalty payments for its PY-1 block, which HOEC disputes and plans to appeal. The leadership transition is crucial for the company's strategic direction and operational execution in the competitive exploration and production (E&P) sector, which demands deep technical expertise and effective management.
