Nirvik Singh will take charge as the non-Executive Chairman at Raymond Apparel.
Gautam Singhania has stepped down from the position of Chairman of Raymond Apparel, a wholly-owned subsidiary of Raymond. He will, however, continue to be on the board of Raymond Apparel.
Nirvik Singh will take charge as the non-Executive Chairman in his place. Anshu Sarin has also joined the board as a non-executive director along with Gautam Trivedi who has joined as an independent director.
"I have always believed in setting the highest standard of governance and have always advocated to run the business professionally. I am delighted that Nirvik Singh has been appointed as the Non- Executive Chairman of Raymond Apparel Limited and I am sure that the company will benefit tremendously under his able leadership. I also welcome Anshu Sarin and Gautam Trivedi as new board members of Raymond Apparel Limited," Singhania said in a release to the exchange.
Nirvik Singh is a 27 -year marketing and communication industry veteran and is currently the Chairman & CEO, Asia Pacific, Middle East, and Africa of Grey Group Asia Pacific. He began his career with Lipton India, a Unilever company and became the head of Grey Group India at the age of33.
Raymond Apparel offers full wardrobe solution with ready-to-wear brands such as Park Avenue, Color Plus, Parx and Raymond Ready to Wear.
At 14:13 hours, shares of the holding company Raymond was quoting at Rs 762.25, down Rs 8.75, or 1.13 percent. It has touched an intraday high of Rs 778.95 and an intraday low of Rs 725.75.
