Raymond Lifestyle appoints new independent directors following demerger

Textile and apparel giant Raymond’s de-merged entity Raymond Lifestyle has appointed four new independent directors: G C Chaturvedi Dinesh Lal, Vineet Nayar, and Anisha Motwani. Raymond’s chairman Gautam Singhania is also expected to step into the role of managing director at Raymond Limited.

“This journey that we have started with the de-merger of our lifestyle business gets a heft by enabling the right governance with a board comprising members with high pedigree,” said Raymond’s chairman and managing director Gautam Singhania, ET Bureau reported. “Their diverse expertise and insights will contribute to our strategic vision and operational excellence. Their steer will play a critical role in driving the company’s long-term success and delivering value to our stakeholders.”
 
Vineet Nayar is the former chief executive of HCL Technologies, a multinational information technology business based in Noida. Anisha Motwani is a board member of health focused business Abbott and G C Chaturvedi is the former chairman of ICICI bank. Dinesh Lal is a director at Raymond and has over four decades’ experience in shipping and logistics, according to Raymond’s website.
 
While sources told the Economic Times that Gautam Singhania is likely to become Raymond Lifestyle’s managing director, they also shared that Raymond Lifestyle’s chief executive Sunil Kataria will also join the board. The business is currently focusing on creating value for its shareholders.