Raymond: Gautam Singhania resigns, Nirvik Singh new non-executive chairman

Gautam Singhania has resigned as chairman of Raymond Apparel and been replaced by Nirvik Singh who has been appointed non-executive chairman. Singhania will however continue to be on the company's board. Along with Singh, Anshu Sarin and Gautam Trivedi also joined the board as non-executive director and independent director, respectively. Last month, Vijayapat Singhania, Founder of Raymond, was asked to step down from the company after a running feud with his son Gautam Singhania.

In a statement Gautam Hari Singhania has said, “I have always believed in setting the highest standard of governance and have always advocated to run the business professionally. I am delighted that Nirvik Singh has been appointed as the Non - Executive Chairman of Raymond Apparel Limited and I am sure that the company will benefit tremendously under his able leadership. I also welcome Anshu Sarin and Gautam Trivedi as new board members of Raymond Apparel Limited.”

Singh is a 27-year marketing and communication industry veteran and is currently the Chairman & CEO, Asia Pacific, Middle East, and Africa of Grey Group Asia Pacific. Sarin is the Chief Executive Officer of Berggruen Hotels. Gautam Trivedi is the Co-Founder & Managing Partner of Nepean Capital. Trivedi has over 26 years of experience in the Indian and Asian financial industry.