Rajeev Karwal announces parting of ways with Electrolux
It is finally formal. Putting an end to the intense speculation for the past couple of months, Rajeev Karwal, CEO & Managing Director, Electrolux Kelvinator India, has announced that he has resigned. In a note circulated among the Electrolux India extended management team today, Karwal has said that he had put in his papers on May 2 this year. He will continue to attend office, if required, till the end of the month.
It is finally formal. Putting an end to the intense speculation for the past couple of months, Rajeev Karwal, CEO & Managing Director, Electrolux Kelvinator India, has announced that he has resigned. In a note circulated among the Electrolux India extended management team today, Karwal has said that he had put in his papers on May 2 this year. He will continue to attend office, if required, till the end of the month.
Karwal wrote: “There has been much speculation on my resignation. This note is
to inform you officially that I had resigned on the 2nd of May, 2005 of my
own volition. I had deliberated on the reasons leading to this decision of
mine in my resignation note and hence would not like to explain them
here.” Karwal added that he had “wanted to communicate this (resignation) to you earlier but circumstances prevented me from doing so.”
Karwal thanked his management team colleagues for their cooperation in the last 28 months. “You have delivered the June financial KPIs also in most difficult circumstances. In fact, for the month of June the team delivered almost 40 per cent higher sales turnover than last year, with very tight receivables and improved margins. Many thanks for all your efforts. I have seen the July plans which are looking good,” he wrote in his parting note.
