Jubilant Energy's CEO steps down

Jubilant Energy announced Friday the resignation of Chief Executive Officer (CEO) Ajay Khandelwal.

The oil and gas explorer gave no explanation for the exit saying only that he was leaving "by mutual agreement and immediate effect".

The company said it has started the hunt for a new CEO and will provide an update in due course.

In the meantime, Jubliant has set up a committee comprising of Chief Operating Officer, Ramesh Bhatia, and Chief Financial Officer, Vipul Agarwal, for the day to day running of business.

Khandelwal, an electrical engineering graduate from Mumbai, started his career in the energy field at Powergen UK in 1996 before he joined Shell as an investment advisor.

He moved over Frontline Corporate services in London as a portfolio investment manager in 2006 and three years later jumped on board Jubilant.

RD