THE LAST FEW weeks have not been easy for Gautam Singhania, the 58-year-old Chairman and Managing Director of Raymond. A very public spat between him and his now estranged wife, Nawaz Modi Singhania, has not gone down well with the stock market, sparking a 14 per cent fall in share prices in November.
The family battle has a professional angle, since Nawaz Modi is a non-executive director of Raymond. Singhania has requested privacy, but there are concerns.
A recent note by proxy advisory firm Institutional Investor Advisory Services asks how "private" the lives of listed company CEOS ought to be. "A CEO's divorce can affect the company in many ways. First, a divorce may impact the CEO's efficiency. There is a growing body of work that suggests that family conflict often spills onto the workplace," it said. Then, there is the impact on ownership, where a CEO holding a substantial ownership stake in a company "may need to sell or transfer a portion of this stake to meet the conditions outlined in a divorce settlement." Per reports, Nawaz Modi has sought 75 per cent of Singhania's wealth, estimated at $1.4 billion.
The firm's independent directors, meanwhile, have hired legal counsel and have assured shareholders that they will protect the interests of all stakeholders.
Diese Geschichte stammt aus der December 24, 2023-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 24, 2023-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky