Mumbai: raymond Chairman and Managing Director Gautam Singhania An effort has been made to allay concerns about the impact of his personal life on the company’s business.
Two weeks after separating from his wife of 24 years, the clothing magnate has told Raymond’s board and staff that he is “fully committed to the smooth functioning of the company and its businesses”. In an internal statement, he said, “It’s business as is.” In general” in the company “despite these (being)difficult times For me”.
Singhania reiterated that he has chosen not to comment on his personal life to maintain the dignity of his family. “Since the media is full of news about matters related to my personal life, I am writing to you to say that I have decided not to comment on it as maintaining the dignity of my family is of paramount importance to me “
From 13th November, day Singhania Raymond’s share price has fallen 13% to Rs 1,650 on BSE after he made public his separation from his wife Nawaz Modi. In comparison, the BSE 500 index, of which Raymond is a constituent, is up 1.6% during the same time period.
Modi, a shareholder and director of Raymond, has reportedly sought 75% of Singhania’s $1.4 billion net worth for him and his two daughters as part of the divorce settlement.
In the statement, Singhania also talked about Raymond’s achievements and ongoing initiatives. He said it has been the best quarter in the company’s history and has almost doubled the engineering business by entering the emerging segments of aerospace, defense and electric vehicle components through the recent Manny Precision Products acquisition. He said it has also been awarded two major real estate projects in the Mumbai metropolitan area.
Two weeks after separating from his wife of 24 years, the clothing magnate has told Raymond’s board and staff that he is “fully committed to the smooth functioning of the company and its businesses”. In an internal statement, he said, “It’s business as is.” In general” in the company “despite these (being)difficult times For me”.
Singhania reiterated that he has chosen not to comment on his personal life to maintain the dignity of his family. “Since the media is full of news about matters related to my personal life, I am writing to you to say that I have decided not to comment on it as maintaining the dignity of my family is of paramount importance to me “
From 13th November, day Singhania Raymond’s share price has fallen 13% to Rs 1,650 on BSE after he made public his separation from his wife Nawaz Modi. In comparison, the BSE 500 index, of which Raymond is a constituent, is up 1.6% during the same time period.
Modi, a shareholder and director of Raymond, has reportedly sought 75% of Singhania’s $1.4 billion net worth for him and his two daughters as part of the divorce settlement.
In the statement, Singhania also talked about Raymond’s achievements and ongoing initiatives. He said it has been the best quarter in the company’s history and has almost doubled the engineering business by entering the emerging segments of aerospace, defense and electric vehicle components through the recent Manny Precision Products acquisition. He said it has also been awarded two major real estate projects in the Mumbai metropolitan area.