The Future Lifestyle Fashions Ltd (FLFL) board, at its meeting on Wednesday, considered and approved the re-designation of Kishore Biyani, the company’s Managing Director, as Non-Executive Vice Chairperson, with effect from March 5.
In a stock exchange notice, the company said Biyani has been appointed as Executive Chairman of Future Retail Ltd and, in view of applicable provisions of the Companies Act, 2013, he would not be able to hold the position of MD of FLFL.
The re-designation is based on the recommendations of the Nomination and Remuneration Committee, it added.