Raymond Group announced that its promoter and chairman Gautam Hari Singhania will step down as chairman from all group companies and dissociate himself from day-today functioning to build an organisation which can run competitively and independently without the involvement of the promoter. Singhania has already moved out from the chairman's post for the FMCG entities and Raymond Apparel which handles the branded apparel business. Next in line would be the two engineering entities - JK Files and Ring Plus Aqua - for which he is already looking for a professional chairman, and he may even move out from the top post of the entity, Raymond Ltd. In the FMCG business, Rajeev Bakshi is the chairman of JK Helene Curtis while Singhania is a director and there are three independent directors. The company also inducted two independent directors with Singhania becoming a director.