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Trident announces broad base of its Board of Directors to empower Professional Management

Chandigarh/Ludhiana, India- August 9, 2022 (Yes Punjab News)
Trident Limited announces that its Founder and Chairman has expressed his intention to the Board to step down as Director & Non-Executive Chairman of the Company due to his persistent health issues and family commitments.

Respecting the request received from Mr. Rajinder Gupta to relieve him from the duties of the Chairman of the Trident Limited, the board commended the unparalleled contribution of the founder in building the company and graced the decision of prioritizing health care and family commitments.

Mr. Rajinder Gupta while expressing his desire to step down from the position said, “After devoting over three decades at Trident Limited, I requested the Board of Directors to relieve me and support to prioritize my overall health and wellbeing. My family will also be with me to rebuild my physical and emotional well-being.”

The outgoing Chairman expressed his gratitude to the board and shareholders for supporting him over the past three decades and trusting him to build Trident Limited. He said, I am hopeful that I would be able to serve once I regain my physical and emotional fitness.

I thank once again, with a humble heart and memories of some passionate years during which a distinguished journey of overcoming many challenges with unmatched determination with the teamwork was witnessed by the world while we built Trident together and has brought it on the Global Map and we have become a notable contributor in our country’s growth and prosperity and have full confidence in the new professional Board that Trident will accomplish greater heights in times to come.”

The Board and the Nomination and Remuneration Committee today approved to broad base & restructuring of Company’s Board of Directors (the “Board”) by induction of two Independent Directors, one Non-Independent Director and five Professional Managing Directors on the Board in addition to the existing Directors. This strategic move shall accelerate the growth momentum of the Company, thereby placing the Company in an upward trajectory, adding value & growth for the shareholders.

The Board has been broadened based on Management Infrastructure aligned with Business verticals i.e., Bed Linen, Bath Linen, Yarn,Paper & Chemicals. There shall be business wise KPIs and Balanced Score Cards (BSC) for each business which shall empower businesses to become independently progressive and profitable which in turn catapults the overall growth of the company.

Mr. Gupta graciously welcomed the reconstituted board with full confidence and encouraged the members to take the company to greater heights, he said, “Keeping in view the reconstitution of Board of Directors of the Company, I am of the firm opinion that the Company is in right hands of seasoned and skilled Directors with optimum mix of executive & Independent Directors. He added, “I wish the succeeding leadership team who is very much capable and well-groomed to sustain growth and I look forward to hearing of the continued success of Trident Limited”.

The broad base of the Board shall empower respective Business Managing Directors to drive strategy and lead business in sync with the vision of the company.

The Board based on recommendations of the Nomination and Remuneration Committee has considered and approved the following appointments on the Board of Directors of the Company w.e.f. August 9, 2022:

Independent Directors
* Appointment of Prof. Rajeev Ahuja as an Independent Director

* Appointment of Mr. Raj Kamal as an Independent Director

Managing Directors
* Appointment of Mr. Swapan Nath as Managing Director – Bath Linen Business

* Appointment of Mr. Kamal Gaba as Managing Director – Bed Linen Business

* Appointment of Mr. Kavish Dhanda as Managing Director – Yarn Business

* Appointment of Mr. Naveet Jindal as Managing Director – Paper, Chemicals and Energy Business

* Appointment of Mr. Pardeep Kumar Markanday as Managing Director – Growth and Projects

Non-Executive Non-Independent Director
* Appointment of Mr. Kapil Ghorse as Non-Executive Non-Independent Director

Acknowledging the wealth of experience, exhaustive knowledge and proven track record of creating value for the stakeholders, the Board of Directors requested Mr. Rajinder Gupta’s for continued association with the company in the advisory role to the Board.

Mr. Gupta accepted the request from the Board for continued mentorship and guidance. In agreement with the recommendations of the Nomination and Remuneration Committee, the board appointed Mr. Rajinder Gupta as ‘Chairman Emeritus’ of the Company with effect from August 9, 2022.

In this new role, Mr. Rajinder 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 related matters, and continue to build / contribute to the Company’s image and brand equity.

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