Jeh Wadia steps down as managing director of Bombay Dyeing
Bombay Dyeing and Manufacturing Company Ltd has said that its managing director Jeh Wadia has stepped down from the position. Jeh Wadia, whose term expired on March 31, had held the position since April 2011.
As an interim measure, the company’s day-to-day management will be co-helmed by the company's CEO and its chief financial officer.
“In keeping with the objective of professionalisation of the management, Jeh Wadia managing director of the Bombay Dyeing and Manufacturing Company Ltd has stepped down and will not be renewing his contract as managing director of the company which has expired on March 31, 2021,” the company said in a regulatory filing.
“CEO Suresh Khurana and CFO Hitesh Vora would look after the day-to-day management and work under the supervision of Minnie Bodhanwala, a director of the company,” it added.
Jeh Wadia, son of chairman Nusli Wadia, had earlier in March this year, stepped down as the managing director of Wadia Group-controlled airlines GoAir.
Bombay Dyeing is one of the leading textile manufacturers in the country and owns menswear brand Cezari. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.
Copyright © 2021 FashionNetwork.com All rights reserved.