Kirloskar Oil Engines Limited announced the resignation of Mr. Atul Kirloskar as Chairman and Non-Executive Non-Independent Director, effective March 31, 2026. His term as Chairman was set to expire on this date. Mr. Kirloskar cited reaching the age of 70 years as the reason for not seeking reappointment. The Board acknowledged his contributions, and Mr. Rahul Kirloskar has been appointed as the new Non-Executive Director.
Key Management Transition Confirmed
Kirloskar Oil Engines Limited disclosed significant changes in its Board structure effective the end of the financial year. Mr. Atul Kirloskar (DIN 00007387), who was re-appointed in April 2024 for a two-year term as Chairman and Non-Executive Director, has tendered his resignation from both roles. His cessation is effective from close of working hours on March 31, 2026.
Reason for Cessation
The resignation stems from Mr. Atul Kirloskar choosing not to renew his term as Chairman and his intention to retire as a Non-Executive Non-Independent Director due to reaching the mandatory retirement age of 70 years, as detailed in Annexure A of the filing dated 10th March 2026.
Succession and Appointments
The Board confirmed several related appointments following meetings:
- Mr. Rahul Kirloskar (DIN 00007319), currently a Non-Executive (Non-Independent Director), has been appointed as the Chairman of the Company, effective from 1st April 2026.
- Mrs. Gauri Kirloskar (DIN 03366744) has been re-appointed as a Whole Time Director for a three-year period commencing from 20th May 2025. She has also been designated as the Vice-Chairperson of the Company, effective 1st April 2026.
Board Acknowledgment
The Board of Directors formally placed on record its sincere appreciation for the valuable contributions and guidance provided by Mr. Atul Kirloskar during his tenure. His resignation was accepted by the Board, with Mr. Satish Jamdar signing as the NRC Chairman on 10th March 2026.
Source: BSE
