Future Retail appoints Sadashiv Nayak as CEO
Future Group’s Future Retail has appointed Sadashiv Nayak as its new CEO with effect from Wednesday, following a board meeting on the same day.
Nayak has stepped into his new role as CEO of Future Retail following a 17 year career within parent entity Future Group, ET Bureau reported. In his new role, Nayak will lead Future Retail as it navigates the ongoing logistics of amalgamating its business into Reliance Retail, a move hotly contested by Amazon due to conflicting interests.
“He had worked at various designations during his association within the group,” Future Group wrote in a regulatory filing on the appointment, the Press Trust of India reported. For the past eight years, Nayak has held the role of CEO of Future Retail’s multi-brand store chain Big Bazaar and played a pivotal role in the business’ growth and development, according to the group.
Nayak, graduated from NIT Karnataka and XLRI, Jamshedpur, has over 27 years of experience in the retail industry. He has also worked for businesses including Hindustan Unilever Limited and Asian Paints Limited.
Future Retail operates a range of businesses including Big Bazaar, Easyday, Fbb, Foodhall, and Nilgiris, among others.
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