Vaibhav Global augments senior management capacity to drive long-term growth

Vaibhav Global Ltd said on Friday its board of directors has approved the promotion of Puru Aggarwal to Group President for strategy and business development.

He was holding the position of Group Chief Financial Officer so far. Aggarwal has experience of 28 years in business modelling, financial strategy and planning, business development, procurement, supply chain and distribution, budgeting, cost optimisation, corporate law and taxation.

At the same time, Vineet Ganeriwala has been appointed as the new Group Chief Financial Officer under the category of whole-time key managerial personnel of the company.

"The changes in key managerial personnel have been made to augment senior management capacity of Vaibhav Global for sustained long-term growth," the company said in a statement.

Vaibhav Global is an electronic retailer of fashion jewellery, accessories and lifestyle products in developed markets with direct access to about 10 crore households through its TV home shopping networks -- Shop LC in the United States and TJC in Britain.

Its TV channels reach customers directly on all the major cable, satellite and DTH platforms -- Dish TV, DirecTV, Comcast, Verizon Fios, Time Warner, AT & T, Sky, Virgin, Freeview and Freesat.

In the third quarter of current fiscal (Q3 FY20), the company reported a profit after tax of Rs 66 crore on a turnover of Rs 563 crore.