Sanjeev Nimkar, Managing Director of Kirloskar Oil Engines, has resigned from the company with immediate effect citing personal reasons. The Board has accepted his resignation, a press statement issued by the company said.
While the company is in the process of appointing a new professional Managing Director, the board has requested Gauri Kirloskar, non-executive, non-independent Director of KOEL, to supervise the day-to-day affairs of the company in the interim, under the guidance of Atul Kirloskar and the board of directors. The board has accordingly extended the Executive Chairmanship of Atul Kirloskar with effect from January 26, 2022 till March 31, 2023 to aid in the transition.
Gauri has served as a non-executive, non-independent Director on the Board of KOEL since 2014. She is also a director of Arka Fincap, Arka Financial Holdings, La-Gajjar Machineries and Optiqua Pipes and Electricals, which are subsidiaries of Kirloskar Oil Engines.