BHILWARA (RAJASTHAN) / NOIDA / MUMBAI / RAJKOT - In a regulatory filing as submitted to the Indian Stock Exchanges, Bhilwara (Rajasthan) headquartered Textiles manufacturing Indian Company RSWM Ltd said of Riju Jhunjhunwala, the existing Managing Director & Chief Executive Officer of the company having been elevated to the position of the Chairman of the Board of the Company.
In a press-release attached and enclosed with the regulatory filing as submitted by the company, further read that, RSWM Limited (RSWM) is a flagship Company of LNJ Bhilwara Group, having presence in Textiles.
RSWM is vertically integrated Fibre to Fabric Company with 10 operational facilities spread across the state of Rajasthan.
RSWM is leader in Textile Yarn Exports with presence in over 70 Countries.
As a process of natural progression and succession planning, Ravi Jhunjhunwala and Shekhar Agarwal who were Chairman and Vice Chairman respectively for about 25 years, expressed their desire to relinquish from the Chairmanship and Vice Chairmanship of the Company and requested the Board of the Company to accept their request with immediate effect.
The Board of Directors, at its meeting held on 15th June, 2020, accepted their request and requested them to continue to remain on the Board of Directors of the Company and provide their guidance, which had been accepted by them.
The Board of Directors appointed Riju Jhunjhunwala, Managing Director & Chief Executive Officer, as new Chairman of the Board of the Company.
Riju Jhunjhunwala has served on the Board of the Company since 2003 and is currently its Managing Director & Chief Executive Officer.
He has significant diversified business experience in Textiles, Graphite Electrodes and Power Generation.
The Board expressed their gratitude to Ravi Jhunjhunwala & Shekhar Agarwal for their commendable guidance and contributions to take the Company to the present heights.
The Board of Directors expected that under the leadership of Riju Jhunjhunwala as Chairman & Managing Director, the Company will attain greater heights and maintain leadership in Textile Industry in the Country.
Riju Jhunjhunwala reiterated his commitment to accept challenges and lead the company during current difficult times.
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