Latest News | Timex Group India Managing Director Sharmila Sahai Resigns

New Delhi, Mar 15 (PTI) Leading watchmaker Timex Group India on Tuesday said its Managing Director Sharmila Sahai has resigned from her position and Deepak Chhabra has been appointed as the new MD.

Chhabra's appointment is with effect from March 28, 2022, Timex Group India said in a regulatory filing.

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"Due to her personal reasons, Sharmila Sahai has decided to move on and has resigned from her position of Managing Director as well as Director of the Company with effect from close of business hours of March 27, 2022," it said.

She will, however, continue to work with the company till June 30, 2022 for smooth handover and transition of the work, it added.

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Moreover, based on the recommendation of Nomination and Remuneration Committee, Timex Group India board has appointed Deepak Chhabra, as an Additional Director till the next general meeting of the Company and the Managing Director of the company for a period of three years.

However, this will be "subject to the approval of members of the Company", it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)