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Bosch taps Tillmann Olsen as CFO; Karin Gilges resign
Olsen takes charge from June as Karin Gilges exits for overseas Bosch role
GERMANY: Bosch Limited’s Karin Gilges has resigned as chief financial officer and alternate director, effective at the close of business on 31 May 2026. Her exit is linked to a new global assignment within the Bosch Group outside India, the company clarified.
Tillmann Olsen will step into the role of CFO and key managerial personnel from 1 June 2026, subject to regulatory approvals.
Gilges, who took charge in May 2022, was credited by the board for her contribution to governance and growth during her tenure. She has committed to ensuring a smooth transition before taking up her international role.
Olsen brings more than two decades of experience within the Bosch ecosystem. He is currently executive vice-president at Bosch Rexroth AG in Germany, where he leads a business unit with over 1,500 employees and annual sales exceeding €400 million.
Earlier, he served as regional president for Bosch Rexroth Africa and chief executive of the South Africa group, overseeing operations across 15 companies and delivering a compound annual growth rate of more than 8 per cent. His previous stints include turnaround roles in France and the creation of a sourcing organisation in China spanning Hong Kong, Shanghai and Beijing.
With a track record in mergers, acquisitions and restructuring, including a global inventory reduction programme that unlocked over €500 million in free cash, Olsen is expected to bring a steady hand to Bosch’s finance function as it navigates its next phase.
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Kotak Mahindra Bank appoints Ramesh Iyer to board
Veteran financier replaces Ashok Gulati, who retires in March
MUMBAI: Kotak Mahindra Bank has announced a change to its board of directors, with independent director Ashok Gulati set to retire at the end of his term on 5 March.
The company said it has appointed Ramesh Ganesh Iyer as an additional and independent director for a four-year term, effective 17 February, subject to shareholder approval.
Iyer brings more than four decades of experience in financial services. He spent much of his career at Mahindra & Mahindra Financial Services, where he served as vice chairman and managing director before taking on the role of president for the financial services sector and member of the group executive board at Mahindra & Mahindra. He retired from the group in April 2024.
During his tenure, Iyer was instrumental in expanding rural and inclusive finance initiatives, scaling the company’s assets and customer base. He also led the creation of subsidiaries in rural housing finance, insurance broking and asset management, and oversaw international joint ventures.
Iyer holds a commerce degree and a doctorate of letters, and currently serves on the boards of several listed and unlisted companies.
The board meeting approving the changes was held in Mumbai on February 17 between 6.30 pm and 6.50 pm.
