Annual Report-FY 2011-12 - Timex Group India

(b) Appointment/ Re-appointment of Director(s)In terms of the provisions of the Companies Act, 1956 (the “Act”) and the Articles of Association of the Company,Ms. Gagan Singh retire by rotation as Director of the Company at the ensuing Annual General Meeting and beingeligible, offers herself for re-appointment. Mr. V.D. Wadhwa is proposed to be re-appointed as Managing Director of theCompany with effect from 29 April 2012 for a further period of two years. Further, Mr. Bijou Kurien and Mr. Arthur JosephMorissette appointed as Additional Directors of the Company with effect from 29 July 2011 and 27 January 2012respectively are proposed to be appointed as Directors at the ensuing Annual General Meeting.The Brief Profile of the above named Directors seeking appointment/ re-appointment is given below:Ms. Gagan SinghMs. Gagan Singh is an Independent Director on the Board of Timex Group India Limited. She has more than 30 years ofexperience across several industries. She is currently the Chief Executive Officer - Business of Jones Lange Lasalle India.Ms. Singh is a Trustee of Salaam Baalak Trust and Founder Member and Vice President of Youth reach. She served asManaging Director of Benetton India Private Limited until May 2007. In this position, she played a key role in thetransition of Benetton India Private Ltd from a joint venture to a 100% subsidiary of Benetton Group.Ms. Gagan Singh does not hold any shares in the Company as on date.Other Directorship/Committee MembershipDirectorship in other CompaniesPrivate Limited Companies1. Gamma Pizzakraft Pvt Ltd2. Gamma Brand Mgmt. Services Pvt Ltd3. Jones Lang Lasalle Residential Private Limited4. Gama Pizzakraft (Overseas) Pvt LtdForeign Companies1. Jones Lang Lasalle Lanka Private LimitedMr. V. D. WadhwaMr. V. D. Wadhwa is an alumnus of Harvard Business School and a fellow member of the Institute of Company Secretariesof India. Mr. Wadhwa has over 25 years of working experience in various industries/business. He has been associatedwith the Company since its inception in various capacities and largely credited with the re-establishment of the entiredistribution and retail base after the Company ceased to be the Timex JV with Tata’s. Subsequently he played a major rolein the profitable turnaround of the Company’s operations through business and financial restructuring.Mr. Wadhwa holds 600 shares of Timex Group India LimitedOther Directorship/Committee MembershipDirectorship in other CompaniesPublic Limited Companies1. Timex Group Precision Engineering LimitedPrivate Limited Companies1. Time Master India Private Limited2. Jumbo Securities and Finlease Private LimitedCompanies registered under Section 25 of the Companies Act, 19561. All India Federation of Horological Industries14