Hardy Oil and Gas sees Chief Exec and Chairman depart

13th Jan 2012 11:34

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.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