Shoppers Stop CEO and managing director Rajiv Suri quits citing personal reasons
Jul 13, 2020
Shoppers Stop Ltd managing director (MD) and chief executive officer (CEO), Rajiv Suri, has resigned from the company citing personal reasons. His resignation will be effective on August 25, 2020.
Suri had joined Shoppers Stop as CEO in January 2018, and was elevated as its managing director in June that year following the resignation of its then outgoing managing director, Govind Shrikhande.
“Rajiv Suri, MD and CEO of the company, has tendered his resignation for personal reasons, effective August 25, (close of business hours), to pursue a career in a company outside India," the company said in a statement.
“The board has requested the nomination remuneration and corporate governance committee identify and recommend a suitable candidate for the leadership position. In the interim period, the company will be managed by an experienced CXO committee to ensure stability of operations and strategic initiatives,” the statement added.
Prior to joining Shoppers Stop, Suri was the CEO of Majid Al Futtaim Fashion, which is based in Dubai. A Canadian National, Suri also sits on the boards of various Middle East businesses including Abercrombie & Fitch and Monsoon Accessorize.
Shoppers Stop is part of the K Raheja Group. It operates over 300 stores in 50 cities across India.
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