CG Power and Industrial Solutions Limited has announced a pivotal leadership change with the appointment of Amar Kaul as its new Managing Director & CEO, effective from July 25, 2024. Kaul succeeds N Srinivasan, who has guided the company through a transformative period since its acquisition by Tube Investments of India Ltd. in November 2020.

Under N Srinivasan's leadership, CG Power witnessed a remarkable turnaround characterized by substantial growth across various metrics. This includes revenue expansion, improvement in EBITA margins, capacity enhancement, profitability gains, and successful resolution of legacy issues such as financial accounts and tax disputes. Notably, the company's share price surged nearly twenty-fold during Srinivasan's tenure, reflecting investor confidence and operational excellence under his stewardship.

Acknowledging Srinivasan's contributions, CG Power's Board of Directors has expressed confidence in the company's continued momentum, bolstered by a robust senior management team that ensures continuity and stability during the leadership transition. Srinivasan will support the transition process to facilitate a seamless handover to Amar Kaul, who joins CG Power initially as Managing Director & CEO - Designate starting July 9, 2024.

Amar Kaul brings a wealth of experience to his new role, with over three decades of diverse industry expertise. His career spans significant leadership positions, including roles at Ingersoll Rand where he led the EMEIA region for compression systems and services. Kaul's tenure at Ingersoll Rand also included serving as Chairman and Managing Director of its Indian operations, where he demonstrated prowess in strategizing, executing high-growth strategies, and fostering innovation across the engineering and automotive sectors.

Prior to his tenure at Ingersoll Rand, Kaul held senior leadership roles at Bharat Forge Ltd. and Delphi, further enhancing his credentials in managing profitable business units and driving operational efficiencies. He holds a B. Tech in Mechanical Engineering from G.B. Pant University and an MS Degree in Engineering Business Management from Warwick University, UK.

CG Power's Chairman, Vellayan Subbiah, will continue to provide strategic oversight and governance as Kaul assumes his new responsibilities. The appointment of Amar Kaul underscores CG Power's commitment to sustained growth and operational excellence, leveraging his leadership acumen to navigate evolving market dynamics and capitalize on emerging opportunities in the engineering and capital goods sectors.

In conclusion, CG Power's leadership transition marks a pivotal moment in its journey, poised to build upon past successes under N Srinivasan's leadership and propel towards new milestones under Amar Kaul's stewardship. The company remains focused on delivering value to stakeholders, driving innovation, and reinforcing its position as a leader in the industrial solutions landscape.

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