Raymond re-appointed Gautam Singhania as the managing director of the company for a term of five years with effect from July 1, 2024. The company said in an exchange filing, “The re-appointment of Mr. Gautam Hari Singhania as Managing Director is subject to approval of the Members of the Company and is in compliance with the requirements of Stock Exchange circulars NSE/CML/2018/24 and BSE/LIST/COMP/14/2018-19 both dated June 20, 2018.”
“The group has made enormous progress under the stewardship of Mr. Singhania and his vision is to take the Raymond Brand from being amongst the most respected Indian brands to being amongst the best in the global markets,” the company said.
“With a drive for creating new Brands, Mr. Singhania has taken active interest in the launch of new products and is successfully directing the Group towards sustained growth. Under the leadership of Mr. Singhania, the Group has made a remarkable foray into Real Estate business,” it added.
This comes after Nawaz Modi-Singhania was removed from the boards of three privately held companies- JK Investors (JKI) (Bombay), Raymond Consumer Care (RCCL) and Smart Advisory and Finserve.
Nawaz Modi-Singhania has been embroiled in a contentious settlement dispute with her estranged husband and Raymond group chief Gautam Singhania following their divorce announcement in November 2023.