Kishore Biyani to continue as Future Retail’s managing director for another 3 years
Future Retail, the retail entity of the Future Group has extended the term of Kishore Biyani as the managing director of the company for another three years. Kishore Biyani is also the group's chief executive officer.
The company also reappointed Rakesh Biyani as its joint managing director for three years. He will continue to lead the management in the expansion of the Group's flagship formats such as Big Bazaar, Central and fbb.
The current terms of Kishore and Rakesh Biyani as managing director and joint managing director will end of May 1, 2019. The new term shall commence from May 2, 2019, and will end on May 2, 2022.
“The extension will subject to the approval of the company's shareholders at the ensuing general meeting,” the company said in a Bombay Stock Exchange filing
Kishore Biyani has led the group's foray into organized retail with the opening of the stores of one of the leading fashion brands of India, Big Bazaar, Central, Home Town, foodhall and many other formats in fashion and accessories. He has over 38 years of experience in the field of retail manufacturing and marketing.
Future Retail is the highest revenue generator for the Future Group and has around 286 Big Bazaar stores, 89 FBB stores and 1,050 small format stores spread across the country. It had reported a total income of Rs 18,489 crore ($2.8 billion) for the last financial year.
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