Govind Shrikhande steps down as Shoppers Stop managing director

Govind Shrikhande, managing director (MD) of the Raheja-owned departmental store chain Shoppers Stop, has stepped down. The company did not give a reason for his resignation.

It elevated chief executive officer (CEO) Rajiv Suri, as MD and CEO with immediate effect. Rajiv was appointed as CEO in January. 

Chandru L Raheja, promoter chairman, announced his retirement from the current position and handed over the reins to retail industry veteran B S Nagesh, elevating him from his current role as non-executive vice-chairman to non-executive chairman.

On the appointment, Chandru L Raheja said, “Nagesh has been the guiding force from the first departmental store since it was set up in Andheri.

His management and strategic skills are what I especially admire, and when combined with his experience at the highest level of the industry, he will be perfectly suited to make us more competitive in this market.”