Shoppers Stop evaluates CEO and managing director candidate
Aug 27, 2020
Fashion and lifestyle business Shoppers Stop is evaluating a candidate for the role of CEO and managing director, following the resignation of previous executive Rajiv Suri.
Shoppers Stop announced on Wednesday that it is working to fill its now vacant post of CEO and managing director, the Press Trust of India reported. Suri resigned from the business last month citing personal reasons.
“The last working day of Rajiv Suri, managing director and CEO was August 25, 2020 and post that he ceased to be in the said position,” Shoppers Stop’s parent company K Raheja Corp said in a regulatory filing accessed by the Press Trust of India.
“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.”
Shoppers Stop has fully opened 74 of its retail locations across India, according to its most recent announcement made on its Facebook page on August 13. The business shared that all stores are following strict health and safety procedures and customers also have the option of ordering from their nearest store and having products delivered from that location to their home.
Omni-channel retailer Shoppers Stop’s product selection includes clothing, footwear, accessories, watches, and makeup. The business has recently focused on retailing face masks to adapt the current situation. Shoppers Stop reported revenue totalling Rs 3, 380.98 crore ($508.2 million) in the 2020 financial year which ended in March.
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