Kirloskar Oil Engines Ltd (KOEL) has announced that its Chairman, Atul Kirloskar, will retire from his position on March 31, 2026, on attaining the retirement age of 70.
Kirloskar has been associated with the company for over 43 years in various executive and non-executive roles. He joined the company in 1983 and was appointed Executive Vice President of the erstwhile KOEL, now known as Kirloskar Industries Ltd (KIL), in November 1984. In August 1985, he was co-opted onto the board and subsequently took over as Managing Director.
In 1988, he was appointed Vice Chairman of the erstwhile KOEL and held the position until July 1998, when he was elected Chairman and Managing Director of the company. Over the years, he served on several board committees in both executive and non-executive capacities.
Following the proposed demerger in January 2009, Kirloskar was appointed to the board of KOEL. The demerger was completed in March 2010. He served as Managing Director from March 31, 2010 to January 25, 2012.
He continued as Executive Director and Chairman from January 2012 to March 2023 and has since been serving as Non-Executive Director and Chairman of the company.
As part of a planned succession, the board has appointed Rahul Kirloskar, currently a Non-Executive Director, as Chairperson of the company. Gauri Kirloskar, who is currently the Managing Director, has been appointed Vice Chairperson while continuing in her existing role.
“It has been a true privilege to be part of KOEL’s journey over the years,” Atul Kirloskar said, adding that the leadership transition has been in preparation for the past couple of years as part of a planned succession.
Rahul Kirloskar said he would carry forward the work done under Atul Kirloskar’s leadership and work with Gauri Kirloskar and the management team to achieve the company’s goals.