Hardy Oil and Gas, the India-focused commodities company, has announced both its Chairman and Chief Executive are to leave their positions.
Paul Mortimore is stepping aside as Chairman while Yogeshwar Sharma, the current Chief Executive, will also stand down.
Mortimore, who will remain a non-executive director, will be replaced from January 16 by Alasdair Locke, the man who founded then sold Abbot Group for £906m back in 2008.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mr Sharma will remain in post until a suitable replacement can be found.
Shares in Hardy remained steady on the announcement, falling just 0.76% by 11.31.
Over the last 12 months the stock has gained 22% but it is still down 36% over the last five years.
BS
