Engine oil maker Kirloskar Oil Engines Ltd on Friday (December 6) announced that Aseem Srivastav, Chief Executive Officer of its business-to-consumer (B2C) vertical, will step down from his role on December 31, 2024.

“Resignation of Mr. Aseem Srivastav as Chief Executive Officer – B2C Business Vertical and as a Key Managerial Personnel, with effect from close of working hours of 31st December 2024, as he is desirous of taking up a new role within the Group,” Kirloskar Oil Engines said in a regulatory filing.

Srivastav is stepping down to take on a new role within the Kirloskar Group and has given no reason. “Consequent to this, he will cease to be Chief Executive Officer – B2C Business Vertical and as a Key Managerial Personnel with effect from the close of working hours of 31st December 2024,” it said.

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Effective January 1, 2025, Rahul Sahai, currently CEO of the B2B Business Vertical, will succeed Srivastav.

Kirloskar said Sahai brings to the table experience in scaling business, developing channel capabilities, leading engineering product launches, and strategic growth. He started his career in sales and application engineering with Kennametal Inc.

His most recent role was with Cummins India as Director for Marketing & Engineering (Distribution & NRP Business). At Cummins, he has led several projects such as India Channel Strategy, NRP Business Turnaround, New Product Introductions, Analytics Deployment, Purchasing Capacity Planning, and a Master Distribution Centre in India for its Global Supply Chain.

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He has an MBA from the Indian School of Business, Hyderabad, and is an Industrial & Production Engineer from Manipal Institute of Technology, Manipal.

Shares of Kirloskar Oil Engines Ltd ended at ₹1,118.60, up by ₹17.65, or 1.60% on the BSE.