The Hindu Business Line : Morarjee honcho to join Raymond

TEXTILE major Raymond Ltd will beef up its top management with the induction of Mr Robert Lobo, who is currently the Chief Executive Officer of the Ajay Piramal-managed fabric maker Morarjee Brembana Ltd. Mr Lobo is expected to take up a key global initiative in Raymond.

When contacted, Mr Lobo confirmed he was quitting Morarjee Brembana to join Raymond. However, Raymond remained tightlipped on Mr Lobo's entry into its fold and his future role with the company. It is learnt that Mr Lobo could spearhead the marketing of Raymond's recently kicked-off garment export business, but no confirmation was available.

A fortnight ago, Raymond formally inaugurated its first export-oriented garment plant near Bangalore in a bid to take advantage of the phasing out of quotas in apparel exports beginning January 2005. The just-commissioned plant for trousers and jackets will be followed by similar units for denim wear and shirts, as Raymond, till now a player in fabric exports, hopes to make a mark in the highly competitive global garment sourcing business.

Mr Lobo, who has significant exposure to the fabric export business, has had earlier stints with Arvind Mills and Madura Coats. It is not clear who will succeed Mr Lobo in Morarjee Brembana.