Following its demerger from Raymond, the shareholders of Raymond Lifestyle have approved the appointment of Gautam Hari Singhania as Executive Chairman and Sunil Kataria as the Managing Director of the company in a special resolution.
Under the Companies Act 2013, a special resolution must secure at least 75% of votes in favour to pass and hence, when the special resolution for Singhania’s appointment received 86.85% of the total votes cast, it not only secured the requisite majority but also highlighted strong support from the shareholders, despite earlier objections raised by proxy advisory firms.
In addition to this, Kataria was also appointed the company’s Managing Director in the same AGM where special resolutions were passed in the aftermath of him securing 89.66% of the total votes cast in his favour.
Raymond Lifestyle debuted on the stock exchanges on September 5, 2024, and since then, Singhania has played a leadership role in both Raymond and Raymond Lifestyle .
The Singhania family and their affiliates collectively own 54.68% of Raymond Lifestyle, ensuring a significant stake in the company’s strategic direction.
That being said, prior to joining The Raymond Group in March 2022, Kataria was associated with Godrej Consumer Products for over 11 years, during which he moved up the rungs from being Head- Sales and Marketing (India and SAARC) in February 2011 to COO- Sales & Marketing & SAARC in April 2013, followed by CEO (India and SAARC) in April 2015.
Before that, he was associated with Idea cellular as Circle Head from March 2009 to February 2011, as Senior President at Subhiksha Trading Services from March 2007 to March 2009 and VP- Marketing at VIP Industries from March 2004 to March 2007.
In the past, he also worked with Marico for over seven years.
