Bosch Limited announced that Ms. Karin Gilges, the current Chief Financial Officer of the Company, has tendered her resignation from the said position with effect from the close of business hours on May 31, 2026. Ms. Gilges has resigned upon her appointment to a global role within the Group, which will be based outside India. The resignation is purely on account of this new professional opportunity and there are no other material reasons for her resignation.
Ms. Gilges served as Chief Financial Officer from May 1, 2022. The Board of Directors of Bosch Limited approved the appointment of Mr. Tillmann Olsen as the Chief Financial Officer (CFO) effective June 1, 2026, based on the recommendations of the Nomination and Remuneration Committee. Mr. Tillmann Olsen has extensive experience, including roles such as Executive Vice President at Bosch Rexroth AG, Germany, and Regional President at Bosch Rexroth Africa.
01/2022 ? present: Bosch Rexroth AG, Germany, Executive Vice President, Leader Business Unit Mobile Components (> 1500 associates worldwide), Full P&L responsibility for worldwide business of 3 product classes (sales > 400 m EUR), R&D and production activities in South and North America, Europe, India and China, Driving global sales across all channels including build up of Partner Business, Successful ramp up of new production in Mexico, Renewal of product portfolio including M&A deal (IP). 01/2019 ?
12/2021: Bosch Rexroth Africa, Regional President, Bosch Rexroth Africa (~ 850 associates), Full P&L responsibility for business on African continent (sales > 100 m EUR), Definition and implementation of strategy for growth (CAGR > 8%), Expansion African footprint via new legal entities and distribution partnerships, Support sales initiatives by personal engagement with key customers, Turn around West Africa, new entity in Egypt established, Creation of Africa Management Team, leveraging knowledge across the continent, Recruitment of local South African successor and smooth hand over. 03/2018 ? 12/2021: Bosch Rexroth South Africa Group of Companies, CEO (15 Group Companies, legal presence in 7 African countries), Successful takeover of former distribution partner into Bosch Group, Post Merger Integration (PMI), retaining key players as well as business and customer focus, Secure lean rule set, exceptional entrepreneurial setting within a global corporation, Develop & roll out of new vision, mission and strategy; align entire organization on common goal, Grow sales against weak market, winning market share, Top level engagement with key customers, drive sales from the top, Transform leadership, empower management and create collaboration across the group, Establish ?best of two worlds logic?: speed and flexibility of medium sized company & leveraging the Bosch group network and resources, Lead through the pandemic with empathy and decisiveness, Introduction of functional excellence, adapt to African backdrop, Smooth relocation of business into new state of the art facility.
08/2017 ? 02/2018: Hytec Holding Group of Companies South Africa, Deputy CEO of 50:50 JV between Tesuco South Africa and Bosch Rexroth AG Germany, Successfully prepare smooth 100% take-over of JV, Stakeholder management with customer and partner to enable transition process, keep customers and partner companies engaged in the change. From 08/2014 dual position: Bosch Rexroth DSI SAS France, Commercial plant manager for production, sales and R&D activities (570 associates), Turn around performance and profitability of French production location (sales > 100 m EUR), Restructuring and aligning sales and R&D with production, Integrate and convince unions into process to create profitable growth project (Croissance 100), Various new product launches realized, start of new product line human machine interface, Winner of Innovation award for connected industry application (Entreprise du future), Hand over of organization to French successor.
From 04/2012: Bosch Rexroth SAS France, CFO - Director for Finance and Administration of Bosch Rexroth sales company in France and French speaking Africa (240 associates), responsibility for Finance, Controlling, IT, Purchasing, Logistics and Quality, Full P&L responsibility for business in France and Northern Africa (sales > 100 m EUR), Driving restructuring and turn around for project business worth > 10 m EUR, Lead carve out and demerger of 25 m EUR business (40 associates). 04/2011 ? 03/2012: Change Management Project Leader, Bosch Rexroth DSI France, Lead successful integration of two production entities (> 800 associates) under one management, Enabling set up of biggest Solar Modul production in France.
01/2008 ? 03/2011: Senior Specialist - Controlling Business & Country Units, M&A Bosch Rexroth AG, Controlling of Hydraulics Business Unit, Responsible for 10 Country Units and plants (3 in Europe, 3 in the US, and 4 in Asia), supervision of year-end closing (IFRS), business planning and restructuring, M&A with successful acquisition of >200 m EUR target in 2008, Responsible for valuation and commercial due diligence, Post Merger Integration, Commercial lead for creation of Italian JV with US partner, demerger projects in Germany, Leader of worldwide inventory reduction project, over 500 m EUR free cash generated. 04/2004 ?
12/2007: Purchasing Director, Bosch Rexroth China Ltd., Successful build-up of purchasing function in Bosch Rexroth China Ltd. > 30 associates, Installation of International Purchasing Office (IPO) for Bosch Rexroth supplies worldwide, Recruitment & qualification of 30 Sourcing & Quality Engineers in HK, Peking, Shanghai, Wujin, Successful establishment of supply basis in various Chinese provinces and material fields, Initiate and lead establishment of German Purchasing Manager Association (BME) in Shanghai, Drive SAP implementation in Shanghai and HK (process definition and go live), Hand-over of stable organization to Chinese successor. 01/2003 ? 03/2004: Specialist - Strategic Purchasing, Bosch Rexroth AG, Design and implementation of worldwide web-based purchasing controlling, Transparency generated for 2bn EUR spend, Responsibility to negotiate all consultancy contracts for the Group, substantial savings realized.
04/2001 ? 12/2002: Project Leader - Post Merger Integration for Purchasing, Bosch Rexroth AG, Successful integration of Mannesmann Rexroth purchasing into Bosch Rexroth, Substantial savings realized through in-depth synergy identification and follow up. 09/1999 ?
03/2001: International Trainee program (commercial), Robert Bosch Ltd., Controlling: Robert Bosch Brazil, Campinas, Logistics: Plant Homburg (Saar), Purchasing: Business Unit Diesel Systems, Stuttgart, Controlling: Plant Homburg (Saar).
