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Page Industries gains 4% on new CEO appointment

The shares of Page Industries gained 4 per cent on Tuesday after the company announced that it has appointed VS Ganesh as Executive Director and Chief Executive Officer.

At 12:07 pm, Page Industries was trading at ₹28,705.65, up ₹1,146.20 or 4.16 per cent. It hit an intraday high of ₹28,831.35 and an intraday low of ₹27,687.00. It opened at ₹27,700.00 as against the previous close of ₹27,559.45.

On the NSE, it was trading at ₹28,677.75, up ₹1,165.30 or 4.24 per cent.

The company on Monday, in a regulatory filing, said that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors, at its meeting held on February 22, 2021, had unanimously approved the appointment of Mr V S Ganesh as Executive Director & CEO of the company for a period of 5 years effective June 1, 2021.

Consequent to the elevation of Ganesh to Executive Director & CEO, the Board has shortened his present term of Executive Director – Manufacturing and Operation to the closing hours on May 31, 2021, it further said.

Ganesh had joined Page on June 9, 2014, as Senior Vice President – Manufacturing & Operations.

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