Gautam Singhania steps down as Raymond Apparel chairman

Gautam Singhania has stepped down as the chairman of Raymond Apparel Ltd, the company informed the BSE on Wednesday.

Adman Nirvik Singh was appointed non-executive chairman of the Raymond group subsidiary, which owns Park Avenue, Color Plus, Parx and Raymond Ready-to-Wear brands. Singh, a veteran advertising and communications professional, is currently the Chairman & CEO, Asia Pacific, Middle East, and Africa of Grey Group Asia Pacific.

Company officials said Singhania resigned because he wanted seasoned executives to professionalise Raymond Apparel's management and enhance corporate governance. “I have always believed in setting the highest standard of governance and have always advocated