Gautam Singhania Reappointed as MD of Raymond

On May 3, Raymond announced to the stock exchanges that Gautam Hari Singhania has been reappointed as Managing Director for five years, with effect from July 1, 2024. Subject to the approval of the members.

Singhania, a graduate in commerce from the University of Mumbai, assumed the leadership of Raymond as Chairman and Managing Director in September 2000. Since then, he has played a pivotal role in restructuring the Raymond Group, spearheading the divestment of non-core businesses such as steel, cement, and synthetics. Following the divestment, the group solidified its position with a focused, market-oriented approach.

Nawaz Modi-Singhania was ousted from the Boards of three privately held companies within the Raymond Group: JK Investors (JKI) (Bombay), Raymond Consumer Care (RCCL), and Smart Advisory and Finserve. This decision was confirmed by the companies on Thursday. Despite contesting her removal from two of these companies, Modi-Singhania’s efforts were unsuccessful.

Modi-Singhania, amidst a contentious settlement dispute with her estranged husband and Raymond Group chief Gautam Singhania following their divorce announcement in November 2023, had been serving as a director at JKI since June 2015, RCCL since December 2020, and Smart Advisory & Finserve since October 2017.