CG Power and Industrial Solutions Ltd (CG Power) has appointed Amar Kaul as next Managing Director & CEO for a period of five years beginning July 25.

He replaces the incumbent Managing Director N. Srinivasan, after an extensive search, said the Murugappa group firm in a statement.

Mr. Kaul will join CG Power on July 9th initially as MD & CEO – Designate and take over as the MD & CEO on July 25. Chairman Vellayan Subbiah will continue to provide strategic guidance and oversight over the governance process.

Mr. Srinivasan has led the company since the date of takeover by Tube Investments of India Ltd. on November 26, 2020. Mr. Srinivasan has scripted a remarkable turnaround of CG Power across all metrics. The result of all the above is also reflected in the 20-fold growth in share price from November 2020 to July 5, 2024, the company said.