Kirloskar Oil Engines Limited (KOEL) announced the retirement of its Chairman, Mr. Atul Kirloskar, effective March 31, 2026, upon reaching the age of 70. Following a planned succession process, the Board appointed Mr. Rahul Kirloskar as the new Chairperson. Ms. Gauri Kirloskar will assume the role of Vice Chairperson while retaining her current position as Managing Director, signaling a transition to new leadership.
Chairman Atul Kirloskar to Retire
Kirloskar Oil Engines Limited (KOEL) has publicly confirmed that Mr. Atul Kirloskar, Chairman of the Board, will step down from his position effective March 31, 2026, at the close of business hours. This move aligns with the company’s retirement age policy, as Mr. Kirloskar will be turning 70 years old. Mr. Kirloskar has been deeply involved with the Kirloskar group for over 43 years, holding executive and non-executive roles, including Chairman and Managing Director of the erstwhile KOEL.
Extensive Career Highlights
Mr. Kirloskar initially joined the company in 1983 and was appointed to the Board in August 1985. Following the proposed demerger in January 2009, he continued to serve KOEL, including time as Managing Director from March 2010 to January 2012. He later served as the Executive Director and Chairman until March 2023, and subsequently as the Non-Executive Director and Chairman.
Succession Planning Confirmed
The Board has formalized the leadership transition through a planned succession process. The following key appointments have been made:
- Mr. Rahul Kirloskar, currently a Non-Executive Director, has been appointed as the new Chairperson of the Board.
- Ms. Gauri Kirloskar, currently the Managing Director, has been appointed as the Vice Chairperson, in addition to maintaining her responsibilities as Managing Director.
Statements from Leadership
Mr. Atul Kirloskar expressed that he has decided to step down completely from the Board and all company positions to grant the new leadership the freedom to execute their vision. He stated confidence in the incoming team of Rahul and Gauri Kirloskar.
Incoming Chairperson Mr. Rahul Kirloskar thanked Mr. Atul Kirloskar for his service, noting his intention to carry forward the established work and collaborate with Ms. Gauri Kirloskar and the management team to achieve company goals.
About Kirloskar Oil Engines Ltd (KOEL)
KOEL is recognized as a leader in manufacturing generator sets, internal combustion engines, and farm equipment, maintaining a significant international presence. The company specializes in air-cooled and liquid-cooled engines for generator sets, offering power outputs ranging from 3kVA to 12,000 kVA. KOEL is noted as one of the world’s largest selling genset brands, particularly excelling in the power generation segment with the highest number of IoT connected DG sets.
Source: BSE
