Page Industries said Sunder Genomal has submitted his resignation from the position of managing director and will continue as non-executive director.
Sunder Genomal has expressed his willingness to continue to contribute to the company's success and long-term growth in the capacity of non-executive director.
Resignation of Sunder Genomal from the office of md was accepted by the board of directors through circulation and the board has acknowledged the immense contribution made by him during his tenure as MD. The resignation will be effective from the close of business hours on 31 May 2022.
The board has entrusted the responsibility of appointing the successor with the nomination and remuneration committee (NRC) in line with the succession plan of the company and in this regard, the NRC and board meetings is being convened on 01 March 2022 with a shorter notice.
Page Industries is the exclusive licensee of JOCKEY International Inc. for manufacture, distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE.
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Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India. The company reported a 13.6% rise in net profit to Rs 174.6 crore on a 28.3% jump in revenue from operations to Rs 1189.8 crore in Q3 FY22 over Q3 FY21.
Shares of Page Industries closed 1.71% higher at Rs 42246.40 on Monday.7 The domestic stock market will remain shut today, 1 March 2022, on account of Mahashivratri.
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