The company said the resignation is due to health issues and other personal reasons. Appreciating Jeevanandam’s leadership and contributions during his tenure, the company noted that he has served HOEC for over 11 years, more than eight of which were as the Executive Director and CFO and the last two years as Managing Director.
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Following his resignation, the board has approved the appointment of Baroruchi Mishra as Managing Director & CEO for a term of three consecutive years, effective April 1, 2026, subject to shareholder approval. The company clarified that Mishra’s appointment has been recommended by the Nomination and Remuneration Committee.In the interim, the Board has also approved a change in Mishra’s designation to Non-Executive Non-Independent Director, starting February 25, 2026, following his relinquishment of independent status. This change is also subject to shareholder approval.
Baroruchi Mishra, 58, brings over 35 years of experience in the oil & gas and new energy sectors. He currently serves as Partner and Group CEO of NET Enterprise Group, which provides EPC, EPCM, digitalisation and engineering services across global energy projects.
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According to HOEC, he was also shortlisted by the Public Enterprise Selection Board in 2022 for the position of Chairman and Managing Director of ONGC.
Shares of the company were trading 133.27 as of 2.15 pm. The stock has declined 30.85% in the past year.
