Page Industries said Sunder Genomal has submitted his resignation from the position of managing director and will continue as non-executive director.
Sunder Genomal has expressed his willingness to continue to contribute to the company's success and long-term growth in the capacity of non-executive director.
Resignation of Sunder Genomal from the office of md was accepted by the board of directors through circulation and the board has acknowledged the immense contribution made by him during his tenure as MD. The resignation will be effective from the close of business hours on 31 May 2022.
The board has entrusted the responsibility of appointing the successor with the nomination and remuneration committee (NRC) in line with the succession plan of the company and in this regard, the NRC and board meetings is being convened on 01 March 2022 with a shorter notice.
Page Industries is the exclusive licensee of JOCKEY International Inc. for manufacture, distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE.
Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India. The company reported a 13.6% rise in net profit to Rs 174.6 crore on a 28.3% jump in revenue from operations to Rs 1189.8 crore in Q3 FY22 over Q3 FY21.
Shares of Page Industries closed 1.71% higher at Rs 42246.40 on Monday.7 The domestic stock market will remain shut today, 1 March 2022, on account of Mahashivratri.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU