Trident Group chairman Rajinder Gupta resigns
Chandigarh, August 9
Ludhiana-based Trident Group, one of the largest textile groups in the state, today said its founder and chairman Rajinder Gupta has expressed his intention to the Board to step down as director and non-executive chairman due to health issues and family commitments.
Gupta said, “After devoting over three decades at Trident, I requested the Board of Directors to relieve me and support to prioritise my overall health and well-being. My family will also be with me to rebuild my physical and emotional well-being.” He said, “I am hopeful that I will be able to serve once I regain my physical and emotional fitness.”
Meanwhile, the Board and the Nomination and Remuneration Committee approved to broad base and restructuring the company’s Board of Directors (the “Board”) by inducting two independent directors, one non-independent director and five professional managing directors in addition to the existing directors.
It also appointed Rajinder Gupta as ‘Chairman Emeritus’ of the company with effect from August 9. In this new role, Gupta will, inter alia, mentor, guide and provide perspective to the Board and the management on matters relating to strategy, new business opportunities and corporate governance matters.
