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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 Prime names Suraj Rajappan as managing director and chief executive
The car-finance arm of Kotak Mahindra Bank lines up a new chief and raises its borrowing limit
MUMBAI: Suraj Rajappan is getting the keys. Kotak Mahindra Prime Limited (KMPL), India’s veteran car-finance outfit, has named him managing director and chief executive, effective June 1st, 2026—the same day his predecessor drives off into retirement.
The board approved the appointment at its meeting on March 18th. Rajappan, currently a whole-time director at the company, has spent his entire 24-year career at KMPL, working across functions before rising to the top job. The three-year term remains subject to shareholder approval, and the company confirmed he faces no bar from SEBI or any other authority from holding the post.
He takes over from Shahrukh Todiwala, who superannuates on May 31st after more than three decades with the Kotak Group. Ashok Vaswani, managing director and chief executive of parent Kotak Mahindra Bank, was generous in his send-off. Todiwala, he said, “leaves behind a legacy marked by prudent growth, strong risk discipline, and a focus on customer-centricity.” Of his successor, Vaswani was equally bullish: Rajappan’s “deep industry experience and execution capabilities position KMPL well for its next phase of growth.”
The board also loosened the purse strings, raising the company’s overall outstanding debt limit from Rs 43,000 crore to Rs 48,000 crore. The expanded ceiling covers bank loans, debentures, commercial paper, treasury operations, credit facilities and external commercial borrowings.
KMPL has operated as a car-finance company since 1996, branching into two-wheeler loans in 2018 and loans against property in 2021. With fresh leadership, a bigger borrowing arsenal and an ambitious lender for a parent, Rajappan’s first task is clear: step on the accelerator.
