Raymond Lifestyle onboards top guns ahead of likely IPO

economictimes.indiatimes.com:

Raymond Lifestyle (RLL), the demerged entity of the ₹9,286-crore conglomerate Raymond, has appointed some top executives of India Inc as independent directors ahead of a possible listing next month.

Vineet Nayar, former chief executive of HCL Technologies, GC Chaturvedi, former chairman of ICICI, Anisha Motwani, board member of Abbott, and Raymond director Dinesh Lal have been appointed as independent directors. The appointments were made earlier this month, people aware of the development told ET.

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Gautam Singhania, chairman of Raymond, is likely to take charge as Raymond Lifestyle's managing director, they said. Sunil Kataria, the chief executive of Raymond Lifestyle, will also be part of the newly constituted board. Singhania, chairman and MD of Raymond, said the group is focused on creating 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. «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.»

Raymond's restructuring plan, which included