- Inducts renowned professionals as Independent Directors to strengthen the board
- Board restructuring focusses on transitioning Gokaldas Exports into a truly professionally-managed and board-run company, maintaining close to 50% institutional ownership
Bangalore, April 27th, 2023: Gokaldas Exports Ltd., one of India’s top garment exporters, has completed its board restructuring on April 27th by inducting Pavitra Rajaram as its fourth independent director. This is in addition to the three accomplished independent directors inducted in October 2022. The restructuring is part of the company’s strategy of focusing on the next phase of growth.
Pavitra Rajaram is the founder and Creative Director of Pavitra Rajaram Design, a multidisciplinary design practice. She is also the Design Director for Asian Paints and a recipient of the INTACH Urban Heritage Award, the EDIDA award for Product Design, and the prestigious AD100, which is awarded annually to the 100 most influential designers in the Indian subcontinent and which she has won five times.
Pavitra has a Bachelor's Degree in Political Science and Art History, which she received magna cum laude from Smith College in Massachusetts, USA. During her time at Smith College, she served as the President of her graduating class.
In October 2022, the Company had inducted Rama Bijapurkar, George Varughese and Shiv Dalvie to the board. The independent directors bring years of experience and diverse knowledge to the company. Bijapurkar is a veteran of several top Indian boards, a respected author and consultant, and an alumnus of IIM Ahmedabad. New York-based Varughese is currently a managing director with global management consulting firm Alvarez and Marsal. He was previously with Credit Suisse, Donaldson, Lufkin and Jenrette, and Drexel Burnham Lambert, and is an alumnus of both Harvard and Stanford universities. Dalvie, erstwhile partner of AEA Investors and a veteran of Credit Suisse First Boston and Microsoft, is the founder of Cotton Tree Management that advises on India and Asia-bound PE investments. He is an alumnus of Yale and Stanford universities.
Commenting on the restructuring, Executive Vice-Chairman and Managing Director Sivaramakrishnan Ganapathi said, “I am delighted to announce the completion of the restructuring of our Board of Directors. Our objective was to focus on the next phase of growth for the company and ensure that it is professionally-run
The induction of independent professionals with deep experience and global reach has been a key aspect of this restructuring. We are confident that their expertise and insights will prove invaluable as we navigate the challenges and opportunities that lie ahead. With their guidance, we believe that Gokaldas Exports will be able to achieve its full potential”.
This restructuring is aimed at ensuring a more streamlined and efficient board, with a focus on institutionalising the company and driving growth. The company is optimistic that this new structure will help it achieve its full potential and deliver value to all stakeholders.
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