"After a distinguished career of 16 years with Castrol India Ltd, six of which were on the Board of Directors, initially as Chief Operating Officer and subsequently as Managing Director, Ravi Kirpalani will be leaving the company to pursue other interests," the company said in a statement.
Kirpalani will step down as Managing Director with effect from September 30 but will continue as Director and Whole-time Director from October 1 till December 31, 2015 to facilitate smooth management transition.
"Dormen will be appointed as an Additional Director and Managing Director of Castrol India Ltd with effect from October 1 subject to obtaining all necessary approvals," it said.
The appointment has been approved by the Board of Directors of Castrol India at its meeting today and will be subject to approval of the company's shareholders.
Commenting on his appointment, Omer Dormen called Kirpalani "a great leader" and said "Castrol India is an exceptional business with great people, a solid strategy and strong momentum."
S M Datta, Chairman, said: "During the last six years as Director on the Board, initially as Chief Operating Officer and subsequently as Managing Director, Ravi has been instrumental in developing a profitable growth strategy which has resulted in the company delivering strong results. We wish him all the best in the next phase of his career."
Kirpalani joined Castrol India in 1999 and joined the Board of Directors as the Chief Operating Officer of Castrol India in May 2009. He was appointed as the Managing Director of the company in 2013.
In 2010, he took over his current role as Cluster Sales Director - CIS, Turkey and Central Asia.
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