Things don’t seem to be fine at Bangalore-based Gokaldas Exports Limited (GEL) as in the past few months many top executives have left the company. It includes Gautam Chakravarti, CEO (left in May this year); Ruby Jayan George, COO – Marketing; Sumit Keshan, CFO; and Daisy Mistri COO – Marketing. Finance Controller, Quality Head and few other senior marketing persons of the company heading top clients like Decathlon have also left. Not only this, in coming days some more senior staff members may also leave the company as they are seriously planning for a change. As of now, the company has no proper HR too.
Team Apparel Resources got to know that P. Ramababu, who is being promoted as Vice Chairman and MD of the Gokaldas Exports Limited, is bringing his own new team particularly in IT, Projects, Finance and HR departments, this is supposedly the reason behind senior officials opting out of the company. P. Ramababu holds Directorship in 13 other companies as well.
Also Read – Blackstone part-exits Gokaldas Exports
In another development, Dr. Y S P Thorat, Independent Director on the Board of Director has ceased to be Director of the Company w.e.f. December 1, 2015. Sumit Keshan, who served the company for five years, is now Director, South Asia at CDC Advisers. Sathyamurthy A has been appointed as new CFO of GEL. Daisy Mistri has started his own firm Daisy Mistri Consultancy Services in Bangalore.
Also Read – Madanlal Hinduja Retires as Chairman, Gokaldas Exports
Founded by J. H. Hinduja, GEL is one of largest manufacturers/exporters of apparels in India with a turnover of around Rs. 1,100 crore and it has 13 wholly-owned subsidiaries that support the holding company. The company employs near about 26,000 people and has more than 25 fully-equipped modern manufacturing facilities with a capacity to produce and export about 2.5 million apparels a month.
