Fashion and lifestyle retail giant Shoppers Stop on Wednesday stated it is currently evaluating a suitable candidate for the role of Managing Director and Chief Executive Officer (MD and CEO).
Rajiv Suri stepped down as the firm’s MD and CEO last month, citing personal reasons.
K Raheja Corp., one of India’s leading and most trusted real estate developers and the parent company of Shoppers Stop, shared in a regulatory filing that 25 August 2020 was Rajiv’s last working day at the company.
“The nomination, remuneration and corporate governance committee is in the process of evaluating a suitable candidate for the position of Managing Director and CEO and the developments shall be intimated, from time to time,” it added.
Shoppers Stop reported revenue of Rs. 3,380.98 crore (US $ 508.2 million) for the financial year 2019-20, which ended in March.
Considering the current demand for face masks, the brand has recently started retailing the same.
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