Hindustan oil exploration Company Limited announced major leadership changes following its Board meeting held on January 23, 2026. The company appointed a new Chairman while its Managing Director tendered his resignation, marking significant transitions in the oil exploration firm's top management.
New Chairman Appointment
The Board of Directors appointed Dr. Jagadip Narayan Singh as Additional Director (Non-Executive Independent) and Chairman of the company for a five-year term commencing January 23, 2026. The appointment was made based on recommendations from the Nomination and Remuneration Committee and remains subject to shareholder approval through postal ballot within three months.
| Position Details: |
Information |
| Name: |
Dr. Jagadip Narayan Singh |
| DIN: |
00955107 |
| Designation: |
Additional Director (Non-Executive Independent) & Chairman |
| Term: |
Five consecutive years |
| Effective Date: |
January 23, 2026 |
| Approval Required: |
Shareholder approval via postal ballot |
Dr. Singh brings extensive experience as a retired IAS officer of the Gujarat cadre and former Chief Secretary of Gujarat. His career spans high-level roles in finance, revenue, and administration, building expertise in fiscal management and strategic sector reform. He currently serves as Independent Director for four companies, including three within the IL&FS group, where he was appointed to stabilize operations following government intervention.
Professional Background and Expertise
Dr. Singh's distinguished career includes significant contributions to the gas and petroleum sectors. As Chairman and Managing Director of various Gujarat state entities, he spearheaded the financial turnaround of GSPC, expanded the GSPL gas transportation network, and led Gujarat Gas to become a highly profitable company in piped gas supply.
His governance expertise is recognized by the Central Vigilance Commission, which appointed him as Independent External Monitor for major public sector units including MSTC Ltd, following appointments at Bharat Petroleum, Central Bank of India, and Cochin Shipyards Ltd. Additionally, his tenure as Member Finance at the National Highway Authority of India was marked by significant growth in Public-Private Partnership projects.
Managing Director Resignation
Simultaneously, Managing Director Ramasamy Jeevanandam submitted his resignation citing health issues and personal reasons. He will continue serving in his current position until a new Managing Director is appointed, with the effective resignation date to be agreed upon between him and the Board of Directors.
| Service Details: |
Information |
| Name: |
Ramasamy Jeevanandam |
| DIN: |
07046442 |
| Total Service: |
11 years |
| Executive Director & CFO: |
8.5+ years |
| Managing Director: |
2 years |
| Reason for Resignation: |
Health issues and personal reasons |
| Transition: |
Will continue until replacement appointed |
During his 11-year tenure, Jeevanandam served as Executive Director and Chief Financial Officer for over 8.5 years before leading the company as Managing Director for the past two years. The company acknowledged his significant contributions to the growth of HOEC's portfolio during his service period.
Board Meeting Details
The Board meeting was conducted on January 23, 2026, commencing at 1:45 PM and concluding at 3:45 PM. The decisions were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with all required disclosures provided to the stock exchanges and regulatory authorities.
The company confirmed that Dr. Singh is not related to any existing Director and is not debarred from holding office as Director by SEBI, Ministry of Corporate Affairs, or any statutory authority. All relevant information has been made available on the company's website and communicated to the National Stock Exchange and BSE Limited as per regulatory requirements.
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