Chennai, NFAPost: The Board of Directors of CG Power and Industrial Solutions Limited appointed Amar Kaul as next Managing Director & CEO for a period of 5 years beginning 25th July 2024. He assumed charges from incumbent Managing Director N Srinivasan.
The incumbent Managing Director Srinivasan has led the company since the takeover date by Tube Investments of India Ltd. viz., on 26th November 2020. Srinivasan has scripted a remarkable turnaround of CG Power, indeed one of its kind in Indian corporate history.
The turnaround performance is measured across all metrics such as growth in revenue, EBITA margins, capacity expansion, profitability, business diversification, addressing all legacy issues covering such areas as financial accounts, tax dispute etc.
The result of all the above is also reflected in the 20-fold growth in share price from the date N Srinivasan took over as the Managing Director to the closing price as on 5th July 2024.
N Srinivasan has built a very high-quality senior management team and that will provide continuity to the management team and thereby support both the smooth transition of leadership and ensure continuity in business momentum. Mr. Srinivasan will also be available to support the transition as needed.
Amar Kaul joins the Company on 9th July 2024 initially as Managing Director & CEO – Designate and take over as the Managing Director & CEO effective 25th July 2024. Vellayan Subbiah, as the Chairman of CG Power, will continue to provide strategic guidance and oversight over the governance process.
Amar Kaul has over 30 plus years of total work experience, 12 years of which has been overseas experience. Starting his career as a quality consultant, Amar Kaul has worked across manufacturing, manufacture and application engineering, supplier and quality development and deployment of six sigma and lean manufacturing.
Amar Kaul was in the executive leadership position leading EMEIA (Europe, Middle East, India and Africa) region for compression systems & services in Ingersoll Rand. He also served as the Chairman and Managing Director of Ingersoll Rand, a listed company in India.
Prior to this, he held senior leadership positions in Bharat Forge Ltd. and Delphi. Amar Kaul has proven ability to strategize, execute and manage high-growth P&L and foster innovation across Engineering, the Capital Goods sector, and the Automotive Industry, which are important to CG Power.
Amar Kaul holds a B. Tech (Mechanical Engineering) from G.B. Pant University and MS Degree (Engineering Business Management) from Warwick University in U.K.
