Managing Director and Chief Executive Officer of Shoppers Stop Ltd., Rajiv Suri has resigned from his position citing personal reasons.
He very conscientiously took on the role of CEO in January 2018, post which, he was handed the responsibility of Managing Director in June following the resignation of Govind Shrikhande.
Rajiv’s resignation will come into effect from 25 August and a statement released by Shoppers Stop stated that he resigned to pursue interest in a company outside India.
The Board of Directors accepted his resignation and appreciated his hard work and contribution towards the company, on record.
Additionally, the board of directors turned to the Nomination, Remuneration and Corporate Governance Committee to identify and recommend a candidate for the position.
Meanwhile, an experienced CXO committee will be charged with the responsibilities of the role to ensure stability of operations and strategic initiatives.
Rajiv, who is a Canadian National, serves as a member on the board for various businesses including Monsoon Accessorize and Abercrombie & Fitch. He held the position of CEO at Majid Al Futtaim Fashion prior to joining Shoppers Stop.
Shoppers Stop, an entity of K Raheja Group, was established in 1991 and currently operates over 300 stores on 50 cities across India with a portfolio of over 600 recognised brands in fashion and beauty.