Samsonite CEO steps down over false education credentials

Luggage maker Samsonite’s CEO has called it a quit. According to a company statement on Friday, Samsonite said the resignation was in the company’s best interest after its board reviewed Blue Orca Capital LLC’s allegations that Tainwala falsified educational credentials. Chief financial officer Kyle Francis Gendreau has taken over as CEO.

According to the media reports the board of the company took these allegations seriously about his academic credentials.  

Ramesh Dungarmal Tainwala has served as an Executive Director of Samsonite International S.A. (the "Company" and together with its consolidated subsidiaries the "Group") since May 2011 and as an executive director of the consolidated group since February 2011. He has served as the Company's Chief Executive Officer since October 1, 2014. 

Tainwala was responsible for the Company's overall strategic planning and for managing the Group's operations. Prior to his appointment as Chief Executive Officer, he served as the Company's Chief Operating Officer from March 2014 until September 2014.

Prior to joining the Company in November 1995, Tainwala was an entrepreneur in the plastic processing and consumer goods industries. 

Image Credit-  Blomberg