Samsonite luggage CEO departs on short-seller win

In a dramatic takedown by a short seller of a world-famous brand’s top leader, Samsonite’s chief executive resigned after an attack on his credentials and the company’s corporate governance.

The world’s largest luggage maker said CEO Ramesh Tainwala has stepped down and said the resignation was in the company’s best interest after its board reviewed Blue Orca Capital’s allegations that Mr Tainwala falsified educational credentials. Chief financial officer Kyle Francis Gendreau has taken over as CEO.