HOEC Announces Leadership Change as MD Ramasamy Jeevanandam Resigns

Hindustan Oil Exploration Company Limited (HOEC) has announced a significant leadership change effective March 31, 2026. The company confirmed that Managing Director Ramasamy Jeevanandam will step down due to health issues and personal reasons.

He has been associated with the organisation for over 11 years, serving in senior leadership roles, including Executive Director, CFO, and most recently, Managing Director. Following his departure, the board has approved the appointment of Baroruchi Mishra as the next Managing Director & CEO, beginning April 1, 2026.

Leadership Transition and Resignation Details

HOEC stated in a stock exchange filing that Managing Director Ramasamy Jeevanandam will resign from his position at the close of business hours on March 31, 2026. The company attributed his departure to health-related challenges and other personal considerations.

Jeevanandam’s tenure at HOEC spans more than 11 years, including over 8 years as Executive Director and CFO and the past 2 years as Managing Director. The board expressed its appreciation for his contributions and acknowledged the leadership he provided during his time with the company.

Appointment Of Baroruchi Mishra as Managing Director & CEO

Following the resignation, HOEC’s board has approved the appointment of Baroruchi Mishra as Managing Director & CEO for a term of 3 consecutive years. His appointment will take effect from April 1, 2026, subject to shareholder approval, which is required for formal confirmation.

The company noted that the Nomination and Remuneration Committee has recommended Mishra’s selection for the role. The decision forms part of the company’s structured succession planning and governance process.

Interim Board Changes Ahead of Full Appointment

Ahead of his formal assumption of the Managing Director & CEO role, Mishra’s designation has been revised to Non‑Executive Non‑Independent Director effective February 25, 2026. This change follows his relinquishment of independent director status and is also subject to shareholder approval.

The board has clarified that this interim designation enables a smooth transition in leadership responsibilities. The updated role is designed to align with the company’s governance norms until his full-time appointment takes effect from April 1, 2026.

Corporate Governance and Committee Recommendations

The company highlighted that the leadership changes have followed recommendations from the Nomination and Remuneration Committee. This committee oversees the evaluation, selection, and succession of senior executives in accordance with regulatory and governance standards.

The outlined transition reflects the company’s adherence to structured board processes and statutory requirements. The combination of resignation acceptance, interim designation adjustments, and final appointment timelines ensures continuity in executive management.

Read More: Hindustan Copper Share Price in Focus.

Conclusion

HOEC’s leadership restructuring marks the end of Ramasamy Jeevanandam’s long association with the company and the beginning of a new phase under the leadership of Baroruchi Mishra. The transition has been planned with defined timelines and board approvals to ensure operational continuity.

The company has maintained compliance with governance frameworks through committee reviews and shareholder approval requirements. The leadership change will formally take effect at the close of the current financial year.

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