Kirloskar Oil Engines has announced leadership changes at the helm. In an exchange filing, the company said that Atul Kirloskar, the Chairman of the Board, is retiring at the end of this month. 

The company said that upon Atul Kirloskar’s retirement, Rahul Kirloskar will take over as Chairman of the Board of the 75-year-old company. The company’s Board of Directors has approved the appointment of Atul Kirloskar. 

“We have been working on this transition for the last couple of years, as a planned succession. I believe that timely and planned succession is very important for the Company. It is also important that the new leadership gets the freedom to take the Company forward, in line with their vision and plans.”, Atul Kirloskar said in a statement. 

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Atul Kriloskar, part of the promoter group and the Kirloskar family, has been associated with Kirloskar Oil Engines for the last 43 years and has served in leadership roles. 

Who is the new chairman 

The new Chairman of the Board, Rahul Kirloskar, is also part of the Kirloskar Oil Engines promoter group and the Kirloskar family. He is also serving as the Executive Chairman of Kirloskar Pneumatic. 

Atul Kirloskar is also a member of the boards of several Kirloskar group companies, including Kirloskar Ferrous Industries, Kirloskar Proprietary, Avante Spaces, Kirloskar Energen, and Kirloskar Solar Technologies. 

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“As I step into this role, I intend to take forward the great work that was done in the Company under Atul’s leadership and look forward to working with Gauri and the management team to take the Company towards its goals.”, Rahul Kirloskar said in a statement. 

Kirloskar Oil Engines share price 

Kirloskar Oil Engines’ stock closed at Rs 1,445 on Tuesday, about 0.67 per cent lower in the intra-day trade. In the last 5 trading sessions, the company’s share price has increased by 6 per cent. 

For the last one year, Kirloskar Oil Engines’ stock has been on an upward trend. In the last one year period, the company’s share price has grown by 123 per cent and about 62 per cent in the last 6 moths. 

In last one month, Kirloskar Oil Engines’ share price has risen by 14 per cent.