V-Mart appoints Aakash Moondhra as chairman
Value fashion retailer V-Mart Retail Ltd has strengthened its leadership team with the appointment of its independent director Aakash Moondhra as the new chairman.
With the appointment, V-Mart aims to improve the corporate governance framework by splitting the chairman and managing director roles. Lalit Agarwal would continue in his role as the managing director.
Commenting on the new development, Agarwal in a statement said: “The appointment of Aakash as the chairman will herald a new era of corporate governance in the company. Aakash has been a torchbearer of ethics and governance and this indeed is a big change for a so far promoter led company which is now embarking on its new charter of growth, ably supported by a deep-rooted professional and independent governance culture.”
Commenting on his new role, Moondhra added: “I am thankful to the board for posing the confidence in me and I will try my best to help contribute in making V-Mart an even better organisation than it already is, and I look forward to this exciting journey together with the fellow board members.”
V-Mart is the country’s leading value fashion retailer with a strong presence in tier 2, 3, 4 towns with a store count of 375.
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