CG POWER AND INDUSTRIAL SOLUTIONS LIMITED CG Power and Industrial Solutions Limited (CG Power) has been engaged for the last several months in finding a successor for the incumbent Managing Director Mr. N Srinivasan. After an extensive search, the board selected Mr. Amar Kaul as next managing director for a period of 5 years beginning 25 July 2024. The incumbent Managing Director Mr. Srinivasan has led the company since the date of takeover by Tube Investments of India Ltd. viz., on 26 November 2020.
Mr. Srinivasan has scripted a remarkable turnaround of CG Power, indeed one of its kind in Indian corporate history and a performance 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 Mr. N Srinivasan took over as the Managing Director to the closing price as on 5th July 2024. Mr. N Srinivasan has built a very high-quality senior management team and who will provide continuity to the management team and thereby support both the smooth transition of leadership and ensuring continuity in business momentum.
Mr. Srinivasan will also be available to support the transition as needed. Mr. Amar Kaul joins the company on 9 July 2024 initially as Managing Director & CEO Designate and take over as the Managing Director & CEO effective 25 July 2024. Mr. Vellayan Subbiah, as the chairman of CG Power, will continue to provide strategic guidance and oversight over the governance process.
Mr. 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, Mr. Kaul has worked across manufacturing, manufacture and application engineering, supplier and quality development and deployment of six sigma and lean manufacturing. Mr. 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. Prior to this, he held senior leadership positions in Bharat Forge Ltd. and Delphi. Mr. Amar Kaul has proven ability to strategize, execute and manage high growth P&L and foster innovation across Engineering, Capital Goods sector, Automotive Industry, sectors that are important to CG Power.
Mr. 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.
