“It has been a true privilege to be part of KOEL’s journey over the years. We have been working on this transition for the last couple of years, as a planned succession. I believe that timely and planned succession is very important for the Company. It is also important that the new leadership gets the freedom to take the Company forward, in line with their vision and plans. From this context, I have decided to step down completely from the Board and all positions in the Company. I wish Rahul and Gauri the very best, I am confident that we have the right team to take KOEL to new heights.” Atul Kirloskar
“I thank Atul for his service to the Company over the years. As I step into this role, I intend to take forward the great work that was done in the Company under Atul’s leadership and look forward to working with Gauri and the management team to take the Company towards its goals.” Rahul Kirloskar
Kirloskar Oil Engines Limited (KOEL) has announced that Atul Kirloskar, the Chairman of the Board, will retire from his position, effective 31st March 2026 (close of working hours), on reaching the retirement age of 70 years.
Mr. Kirloskar has been involved in KOEL, for over 43 years in executive and non-executive roles. Mr. Kirloskar joined the Company in 1983, and was appointed as the Executive Vice President of erstwhile KOEL [now known as Kirloskar Industries Limited (KIL)] in November 1984 and co-opted on the Board in August 1985 wherein he took over as the Managing Director. In 1988, he was also appointed as the Vice Chairman of erstwhile KOEL and held the position till July 1998 when he was elected as Chairman and Managing Director of the Board of erstwhile KOEL. Mr. Kirloskar has served the various committees of the Board, in executive and non-executive roles over the years.
Post proposed demerger in January 2009, Mr. Kirloskar was appointed on the Board of KOEL. The demerger was completed in March 2010. He has served as the Managing Director of the Company from 31st March 2010 to 25th January 2012. Mr. Kirloskar continued as the Executive Director and Chairman from January 2012 to March 2023 and thereafter as the Non-Executive Director and Chairman of the Company.
The Board expressed its appreciation for Mr. Kirloskar’s contribution to the Company.
As part of the succession planning process of the Company, the following transitions are planned. The Board of Directors has appointed Rahul Kirloskar, currently a Non-Executive Director of the Company, as the Chairperson. The Board has also appointed Gauri Kirloskar, currently the Managing Director of the Company, as Vice Chairperson, along with her current responsibility as the Managing Director of the Company.
Atul Kirloskar said “It has been a true privilege to be part of KOEL’s journey over the years. We have been working on this transition for the last couple of years, as a planned succession. I believe that timely and planned succession is very important for the Company. It is also important that the new leadership gets the freedom to take the Company forward, in line with their vision and plans. From this context, I have decided to step down completely from the Board and all positions in the Company. I wish Rahul and Gauri the very best, I am confident that we have the right team to take KOEL to new heights.”
Rahul Kirloskar said “I thank Atul for his service to the Company over the years. As I step into this role, I intend to take forward the great work that was done in the Company under Atul’s leadership and look forward to working with Gauri and the management team to take the Company towards its goals.”
