GP Petroleums Limited has informed the Exchange about change in Management
GULFPETRO · price
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Awaiting price reaction for this filing.
GP Petroleums announced several management changes effective January 6-7, 2026. Mr. Ayush Goel, son of Director Mrs. Deepa Goel, was elevated and re-designated as Chairman & Managing Director for a 5-year term (Jan 6, 2026 to Jan 5, 2031), subject to shareholder approval via postal ballot. Mr. Pradeep Kishore Mittal resigned from the CEO (KMP) position and was re-designated as CEO – Lubricants (SMP), focusing on the lubricants vertical. Two Vice Presidents (Sunil Kumar Shetty for HR & Admin, and Tajendra Gupta for Automotive & Technology) were appointed as Senior Management Personnel. Separately, the company approved the acquisition of a 4.625-acre warehouse in Raliawas, Haryana from Aspam Caravan Logistics Private Limited for Rs. 30 crore, a related party transaction due to common directorship of Mrs. Deepa Goel, executed at arm's length based on independent valuation.
The elevation of a promoter-family member to CMD may raise governance concerns for minority shareholders, especially given the simultaneous Rs. 30 crore related-party land deal involving the same family. The CEO exit and the family consolidation at the top could weigh on sentiment, though the postal ballot gives shareholders a chance to weigh in on the CMD appointment.