NEW YORK-Avi Gross, president and CEO of Divatex, will leave his position at the end of this month. Shrikant Himatsingka, the company’s vice chairman, will become president and CEO at that time.
The moves are part of the transition agreed upon between Divatex and The Himatsingka Group in 2007, when the latter company acquired an 80 percent stake in Divatex. Gross will continue to serve on Divatex’s board of directors, according to a Divatex statement.
Avi and Ayelet Gross, his wife, founded Divatex in 1990. For its most recent fiscal year, ending on March 31, the company posted record sales, the statement said.