Hindustan petroleum Corporation Limited has announced a change in its board composition with the cessation of an Independent Director. The state-owned oil marketing company informed stock exchanges about this directorate change as part of its regulatory compliance obligations.

Director Cessation Details

The company has reported that Shri K S Narendiran has ceased to be an Independent Director of the company. His tenure concluded following the completion of his term of office.

Regulatory Compliance

The announcement was made in accordance with Regulation 30 read with Schedule III Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally communicated this change to both BSE Limited and National Stock Exchange of India Limited through an official letter dated March 15, 2026.

Company Communication

The notification was signed by Rakesh Kumar Singh, Company Secretary, and sent to the stock exchanges for their information and records. This communication ensures transparency and keeps stakeholders informed about changes in the company's board structure as required under listing regulations.

Hindustan Petroleum Corporation Limited has announced changes in its board composition following a meeting concluded on March 10, 2026. The company communicated these developments to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of SEBI listing requirements.

Board Composition Changes

The directorate changes involve both departures and a new appointment, as outlined in the company's communication to stock exchanges:

New Director Profile

Shri Vikram Saxena brings substantial industry experience to the HPCL board. His professional background includes:

• Graduate in Mechanical Engineering with postgraduate degree in Human Resource Management
• Over 35 years of extensive experience in Exploration & Production operations
• Expertise across both onshore and offshore domains
• Current position as Director (Technology & Field Services) at Oil and Natural Gas Corporation since March 06, 2025
• Leadership role in ONGC's Drilling & Well Services campaign
• Director position in ONGC Green Limited

Appointment Terms and Compliance

The appointment follows specific regulatory and governance protocols:

Meeting Details

The Board of Directors meeting that formalized these changes commenced at 2:00 p.m. and concluded at 6:00 p.m. on March 10, 2026. The company's communication was signed by Rakesh Kumar Singh, Company Secretary, ensuring proper documentation and regulatory compliance.

Regulatory Framework

The announcement was made in compliance with Regulation 30 read with Schedule III Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ensures transparency and keeps stakeholders informed about significant corporate governance changes that may impact the company's operations and strategic direction.