Bosch Limited announced key changes to its top finance leadership following a Board meeting on February 17, 2026. Current Chief Financial Officer (CFO), Ms. Karin Gilges, is resigning effective May 31, 2026, to take on a global role outside India. The Board has approved the appointment of Mr. Tillmann Olsen as the new CFO, effective June 01, 2026. Both individuals will serve as Key Managerial Personnel (KMP).
Executive Leadership Transition at Bosch Limited
Bosch Limited confirmed significant management changes following its Board of Directors meeting held on February 17, 2026. The primary focus of the meeting was the succession planning for the Chief Financial Officer (CFO) position.
Departure of Ms. Karin Gilges
The Board accepted the resignation of Ms. Karin Gilges, who currently serves as the CFO and Key Managerial Personnel (KMP). Ms. Gilges’ resignation is effective from the close of business hours on May 31, 2026. The reason cited for her departure is her appointment to a global role within the Bosch Group, which will be based internationally. The company expressed deep appreciation for Ms. Gilges’ contributions since she took office on May 01, 2022.
Appointment of New CFO
Based on recommendations from the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Tillmann Olsen as the new Chief Financial Officer, effective June 01, 2026. Mr. Olsen will also assume the role of Key Managerial Personnel (KMP) from the same date.
Profile Summary: Mr. Tillmann Olsen
Mr. Olsen brings extensive global leadership experience to the role. His recent tenure includes serving as Executive Vice President, Leader Business Unit Mobile Components at Bosch Rexroth AG, Germany, from 01/2022 to the present, where he held full P&L responsibility for a worldwide business exceeding €400 million in sales.
Key previous roles detailed in his profile include:
- Regional President, Bosch Rexroth Africa (01/2019 – 12/2021), managing a business with sales over €100 million and leading strategic growth initiatives.
- CEO of Bosch Rexroth South Africa Group of Companies (03/2018 – 12/2021), overseeing 15 Group Companies across 7 African countries.
- Earlier roles in France and Germany, including CFO responsibilities and leading significant turnaround projects, such as steering the performance of a French production location (sales > €100 million) from 08/2014.
Profile Summary: Ms. Karin Gilges (Departure Reason)
Ms. Gilges confirmed that her resignation is purely due to the new professional opportunity abroad and stated explicitly that there are no material reasons related to any disagreement with the company’s operations, Board, or management. Her resignation letter confirmed her commitment to ensuring a smooth transition of responsibilities.
Meeting Conclusion
The Board meeting commenced at 17:15 hrs (IST) and concluded shortly thereafter at 17:20 hrs (IST).
Source: BSE
