Shoppers Stop names Pankaj Chaturvedi as company's new CFO: All about him

Pankaj Chaturvedi will take over as Shoppers Stop's CFO from April 1, 2026, replacing Karunakaran Mohanasundaram, who is stepping down after serving in the role since 2018

Department store chain Shoppers Stop on Tuesday appointed Pankaj Chaturvedi as its new chief financial officer (CFO), effective April 1, 2026. He will replace Karunakaran Mohanasundaram, who has served as the company’s finance chief since 2018.

 

Mohanasundaram is stepping down to pursue opportunities outside the organisation, the company stated.

 

The leadership transition comes at a challenging time for India’s retail sector, which is facing intensifying competition from both online and offline players, along with signs of moderating consumer spending. As per a Reuters report, Shoppers Stop reported a sharp 69 per cent decline in its third-quarter profit, underscoring the challenges confronting the Indian retail industry.

 

Who is Pankaj Chaturvedi?

 

Pankaj Chaturvedi is currently the CFO at Saregama India Ltd. He brings extensive experience from the telecom sector, having previously held senior positions at Vodafone and Reliance Jio. At Vodafone, he served as head of National Business Finance.

 

A chartered accountant by profession, Chaturvedi holds a Master’s degree in Commerce with a specialisation in Accounting and Finance from Gujarat University.

 

Being a finance professional for 19 years, Chaturvedi holds expertise in core accounting, planning, business partnering, treasury and risk assurance. He also served as CFO at Go Airlines (India) until April 10, 2022. In his earlier stints, he has also worked at Hitchati.

 

Shoppers Stop's stock performance

 

After the announcement of the new CFO, Shoppers Stop’s stock ended Tuesday, February 10, at ₹409.2 on the NSE, up 2.2 per cent or ₹8.8 from the previous close, as per National Stock Exchange (NSE) data.

 

Over the past five years, the retailer has generated returns of more than 94 per cent for investors. However, the stock has fallen 31 per cent in the last one year, according to a Mint report.