Raymond Names Gautam Hari Singhania As Executive Chairman
The board gave out a majority nod of 86.85 per cent upon his appointment
In a filing to stock exchanges, Gautam Hari Singhania had been unanimously selected to serve as Raymond's executive chairman.
According to the scrutiniser's report, the resolution was approved by the necessary majority, as were eight other special resolutions pertaining to the appointment of Independent Directors and Sunil Kataria as Managing Director.
86.85 per cent of the votes cast at the annual general meeting (AGM) went to the special motion to appoint Singhania and determine his compensation.
According to a Raymond Lifestyle representative, the company's shareholders voted for Gautam Hari Singhania as chairman and Sunil Kataria as managing director, expressing complete trust in the company, according to PTI.
"This development has reinforced the fact that the promoter is fully committed towards the organisation’s growth and creating shareholder value," he said.
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