Raymond Lifestyle's Leadership Reshuffle: Singhania Takes the Helm

Gautam Hari Singhania has been appointed as the Executive Chairman of Raymond Lifestyle, following shareholder approval. Despite initial opposition from advisory firms over remuneration concerns, Singhania secured 86.85% votes. The appointment occurs as Raymond Lifestyle navigates its recent stock listing and aims for focused growth.

Gautam Hari Singhania has ascended to the role of Executive Chairman at Raymond Lifestyle, after receiving overwhelming shareholder approval. This marks a strategic leadership transition for the textiles giant as it moves forward post-demerger.

Despite opposition from leading proxy advisory firms due to remuneration and reputational concerns, the proposal garnered 86.85% of the total votes at the company's AGM, surpassing the required supermajority under the Companies Act 2013.

Raymond Lifestyle, now independently listed, also secured support for Sunil Kataria as Managing Director. The company views the elevated leadership as a commitment to its growth trajectory and increased shareholder value, amidst a 0.69% uptick in its share prices on the BSE.

(With inputs from agencies.)