Sanjay Behl, CEO - Lifestyle Business, Raymond Limited, has decided to step down from his current role after serving for 7 years in the company.
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“This development is a natural transition as we are in the process of forming a new company that is focussed on lifestyle business as part of the demerger process at Raymond Group. While we are in the process to appoint a new CEO, Sanjay Behl has agreed to help in the transition and a seamless handover,” the company said in a press statement.
Raymond Group announced the demerger recently and has already initiated the process of completing the formalities for listing the new lifestyle entity, ‘Raymond Lifestyle Ltd.’ The Lifestyle Business through a new listed company will have the existing business of Branded Textiles, Branded Apparel & Garmenting.
Commenting on the development, Gautam Hari Singhania, Chairman & Managing Director said, “Raymond is managed by a strong team of professionals and we are confident of hiring the best-in-class CEO for the proposed listed entity as we embark on a new phase of transformation at Raymond Reimagined”.
Behl said, “I had a very satisfying professional stint with Raymond and enjoyed my journey of seven years. Having garnered a rich experience at Raymond, I now want to pursue some other professional interests and I wish Raymond family all the best for a great future”.