Top executives have been appointed as independent directors of Raymond Lifestyle (RLL), the demerged subsidiary of the Rs. 9,286-crore conglomerate Raymond, in anticipation of a potential listing next month.
The independent directors are Raymond director Dinesh Lal, former chairman of ICICI GC Chaturvedi, former chief executive of HCL Technologies Vineet Nayar, and Abbott board member Anisha Motwani.
As managing director of Raymond Lifestyle, Gautam Singhania, the chairman of Raymond, is probably going to be in charge. The head of Raymond Lifestyle, Sunil Kataria, will also be on the newly formed board. The goal of the organisation, according to Singhania, chairman and MD of Raymond, is maximising shareholder value.
“This journey that we have started with the demerger of our lifestyle business gets a heft by enabling the right governance with a board comprising members with high pedigree,” he said.
