Ramesh Menon, the CEO of Future Group’s small format stores has reportedly resigned from his role. Future Group’s CEO for North zone Dhananjay Sengupta, whose tenure will be effective starting February, would fill the vacancy Menon’s exit entails. The change in the administration was announced via an internal office circular on Tuesday.
Menon had assumed this role at Future Group in January 2018 following the Hypercity Retail merger as Future Group acquired the retail chain in 2017. Previously, Menon was the CEO of Hypercity Retail.
The position Menon held at the Future Group spanned of several duties such as handling the neighbourhood store of the group business that includes four brands – Easy Day, Nilgiris, Heritage and Food World that together amount to a hefty number of 1100 stores.
During Menon’s tenure, these stores had reported a combined turnover of Rs 2,000 crore and his role required a growth of 10,000 stores of the network with omni-channel capabilities for the next five years.
Menon’s future plans are yet to be discovered as he wasn’t reachable for comments. He boasts of a spectacular career in retail being an XLRI alumnus and further joining Hypercity from Reliance Communications where he assumed the role of national head for wireless (GSM) operations.
Future Group is on its way to become one of the biggest neighbourhood retailer, leaving behind its competitors such as Reliance, More and Spencer’s.