The company Samsonite International SA, known throughout the world for its goods for travelers, was left without its CEO. Ramesh Tainwala, who served for the company for more than two decades, has resigned. The reason was the accusation of giving incorrect information about his education.
A week earlier, the general director of the company Blue Orca, Soren Andal, publicly accused Ramesh Tainwala of not having a scientific degree, although Mr. Tainwala called himself a doctor of science.
In response, the head of Samsonite gave an interview to The Wall Street Journal in which he stated that he had not kept the absence of doctorate in secret. He explained that in 1992 he entered the doctoral programme, but he did not find the time to finish it.
Nevertheless, it is known that many documents contained the form of address “doctor” before the name of the general director of a suitcase empire.
A little “sin” destroyed his career, which had been developing for more than two decades. Mr. Tainwala worked as an operational director and head of business in the Asia-Pacific region and the Middle East, and he headed the company in 2014.
The new head of Samsonite will be Kyle Francis Gendreau, at the moment he is the CFO of the company.
On such seemingly negative news, Samsonite shares rose by 10% at the auction in Hong Kong on Friday. The company’s capitalization is $ 4.9 billion.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade