Kirloskar Oil Engines Limited (KOEL) announced significant changes in its leadership. Mr. Atul Kirloskar, who was re-appointed as Chairman and Non-Executive Director effective April 1, 2024, for a two-year term, has expressed his desire not to renew his term as Chairman and has tendered his resignation as Non-Executive Non-Independent Director. His cessation as Chairman and resignation as Director will be effective from March 31, 2026, at the close of working hours. The company has placed on record its sincere appreciation for Mr. Atul Kirloskar's valuable contributions and guidance during his tenure. In a subsequent development, the Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Rahul Kirloskar as the new Chairman of the Company. This appointment will be effective from April 1, 2026. Mr. Rahul Kirloskar is currently serving as a Non-Executive Director (Non-Independent Director). Furthermore, Ms. Gauri Kirloskar, who was re-appointed as a Whole-Time Director and Managing Director for a three-year period commencing May 20, 2025, has been additionally designated as the Vice-Chairperson of the Company. This designation will also be effective from April 1, 2026. The terms and conditions of her appointment as Managing Director and remuneration remain unchanged. The Board of Directors meeting commenced at 10:30 AM and concluded at 3:35 PM on March 10, 2026.
