R Bhargava, who had put in a long stint with Aditya Birla group flagship Grasim Industries, has been brought in as vice-president (exports) to provide greater thrust to the company's export operations.

Apparel division vice-president GS Srikhande has been given additional responsibility of retail distribution and marketing following the resignation of ZFD Lobo. The company is now on the lookout for a replacement to Dave, who recently quit the post of general manager (processing).

It is believed that DS Alva, who retired as managing director, will continue to oversee the company's operations in Indonesia apart from joining the board of certain companies.

Meanwhile, the company plans to seek its shareholders' approval to issue shares with differential rights onpayment of dividend, voting or otherwise and to buy back its own shares at the next annual general meeting slated to to be held on August 3. The funds needed for the buyback will be met from free reserves or the security premium account or out of the proceeds of an issue specifically made for the purpose.

It also plans to introduce a stock-option scheme for its employees, officers and working directors, which envisages direct allotment of shares to such employees or in accordance with a scheme to be framed by a special trust.The company's board is slated to meet on July 31 to announce the results of the first quarter.