Raymond Re-appoints Gautam Singhania As MD

Gautam Singhania has been reappointed by Raymond's board as Managing Director, with effect from July 1, 2024, for a further five-year term. Following the news of their divorce in November 2023, Gautam Singhania is presently involved in a settlement dispute with his estranged wife, Nawaz Modi Singhania. Last month, in April 2024, JK Investors (Bombay), Raymond Consumer Care (RCCL), and Smart Advisory and Finserve were the three privately owned corporations where Nawaz Modi Singhania was ousted from the boards. There has been a lot of public interest in the couple's settlement disagreement.

“The re-appointment of Mr Gautam Hari Singhania as Managing Director is subject to the 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.” company stated in an exchange filing.

The company said, "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,".