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Govind Shrikhande steps down as Shoppers Stop managing director

Chandru L Raheja, promoter chairman, announced his retirement from the current position and handed over the reins to retail industry veteran B S Nagesh

Raghavendra Kamath  |  Mumbai 

Govind Shrikhande, MD, Shoppers Stop

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.

ALSO READ: Shoppers Stop: Lower volumes and muted same-store sales dent Q4 performance

On the appointment, 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.”

First Published: Sat, June 09 2018. 02:54 IST
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