Gautam Hari Singhania, Promotor and Chairman of the Raymond Group will step down from all group companies and dissociate himself from day-today functioning to build an organisation which can run competitively and independently without the involvement of the promoter.
Singhania has already moved out from the chairman’s post for the FMCG entities and Raymond Apparel which handles the branded apparel business. Next in line would be the two engineering entities — JK Files and Ring Plus Aqua — for which he is already looking for a professional chairman, and he may even move out from the top post of the flagship entity, Raymond Ltd.
Singhania is creating independent governance for each company and will ensure the promoter family is always away from day-to-day functioning. He will rather focus on strategy, new product development, budget, set targets, compensation and public relations for the business.