Page Industries appoints V S Ganesh as Managing Director

2 Mar 2022 , 12:50 PM

The Board of Page Industries has announced the voluntary resignation of Sunder Genomal from the office of the Managing Director, with effect from the closing of business hours on May 31, 2022. Genomal will continue as a Non-Executive Director on the Board.

In accordance with the Company’s succession plan, the Board has approved the recommendation of the Nomination & Remuneration Committee that Sunder Genomal transition to the role of Non-Executive Chairman with effect from June 01, 2022 and that VS Ganesh, (ED & CEO) be appointed as MD with effect from June 01, 2022, subject to approval of the shareholders.

Sunder Genomal’s statement: “The journey with Page Industries has been a major part of my life and I have thoroughly enjoyed every moment of this journey as a founder, promoter and Managing Director. I have cherished every milestone of the Company from the start of its operations in 1995.

I will continue to serve the Page Board and contribute in whatever way I can to Page’s success and long-term growth. As prospective Non-Executive Chairman, I look forward to offering guidance as a mentor and sounding board to the MD and being a companion to the Page team in their journey towards many more milestones. In this new role, I will continue to see myself as the conscience keeper of Page Industries, as the custodian of its values, governance, ethical and moral principles and will continue to oversee the interests of all its stakeholders.”

Speaking of behalf of the NRC, GP Albal, Chairman of NRC said “In line with the Company’s succession plan and after thorough deliberation, we are confident that VS Ganesh has the right leadership skills and qualities to succeed as MD. He has exceeded all our expectations in the role of ED & CEO and his credentials, proven track record, commitment and contribution to Page are immense. Along with the leadership team, we have no doubt that VS Ganesh will preserve the ethos of the company and continue to drive profitable and sustained growth.

Commenting on the elevation, VS Ganesh said “l am excited and deeply honoured to be invited to lead Page Industries, a company with rich heritage, culture and built on a strong brand value. I look forward to working closely with the Board, the leadership team and the hugely talented members of the team at Page to continue the growth and build a better tomorrow for all our stakeholders.”

At around 12:23 PM, Page Industries was trading at Rs41,679.65 apiece down by Rs566.75 or 1.34% on Sensex.