Rajeshwari Srinivasan was earlier working in Tata Group.
New Delhi:
Fabindia Limited, retailer of artisan products and lifestyle items, on Monday announced the appointment of Rajeshwari Srinivasan as its Chief Executive Officer.
Rajeshwari Srinivasan, whose appointment is effective from this month, was earlier working with the Tata Group.
Fabindia said in a statement that she will replace Vini Singh, who has decided to retire from the position after serving for seven years as the Managing Director and CEO.
However, Vini Singh will continue as a non-executive director on the Fabindia board.
Rajeshwari Srinivasan has over 30 years of experience in sectors such as FMCG, Retail, Luxury and Hospitality.
He has held executive roles in various Tata group companies, including Rallis India, Tata Consumer, Indian Hotels and most recently as Tata Administrative Services Officer at Titan Company Limited.
Fabindia Managing Director William Bissell said: “We are confident that under his leadership, Fabindia’s business will continue to focus on sustainable growth and generate positive impact for our stakeholders and shareholders.” In February this year, Fabindia postponed its plans to launch an initial public offering of around Rs 4,000 crore, citing volatile market conditions.
Fabindia had withdrawn its draft red herring prospectus (DRHP) filed with market watchdog Sebi for the public listing and said it would also explore other options for liquidity.
Fabindia, established in 1960, has a network of 309 stores and experience centres, 74 Organic India stores and retail touchpoints for Organic India as on September 30, 2021.
The company works with around 50,000 rural artisans and over 12,000 farmers.
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