Samsonite CEO resigns over credentials

samsoniteRamesh Dungarmal Tainwala, the chief executive officer of Samsonite International, has resigned from his post following accusations about his academic credentials, the company says.

The luxury luggage company disclosed Tainwala’s resignation in a filing to the Hong Kong stock exchange, where the company is listed, on Thursday.

In late May, Tainwala was accused of falsifying his resume by saying he had a doctorate degree in business administration from an American university.

The accusations were made by activist investment firm Blue Orca Capital in a report on Samsonite which called the company a “mid-level brand masquerading as a premium luxury player.”

In its Hong Kong filing on Thursday, Samonsite said that its board of governors “takes seriously the allegation” about Tainwala’s credentials and also said accepting his resignation was in the “best interests” of the company.

Tainwala served as CEO since October 2014. He was replaced by executive director Kyle Francis Gendreau, according to Samsonite.

AAP

 

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