Rajiv Suri to stepdown as MD & CEO of Shoppers Stop

11 Jul '20

1 min read

Pic: mridulablog / Shutterstock.com

Shoppers Stop Ltd, India's premier retailer of fashion and beauty brands, has reported that Rajiv Suri, managing director and chief executive officer of the company, has tendered his resignation for personal reasons, effective August 25, 2020 (close of business hours), to pursue a career in a company outside India. The company has accepted his resignation.

Accepting his resignation, the board of directors of Shoppers Stop placed on record its appreciation for the contribution made by him during his tenure.

"The board requested the Nomination Remuneration and Corporate Governance Committee to identify and recommend a suitable candidate for this leadership position. In the interim period, the company shall be managed by an experienced CXO Committee to ensure stability of operations and strategic initiatives," the company said in a press release.

Suri, who had joined the company as CEO in January 2018, was elevated to the position of MD & CEO in June 2018 after the resignation of Govind Shrikhande.

Spread across 90 department stores in 44 Cities, Shoppers Stop also operates premium home concept stores (11 Stores), 132 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Smash box, Jo Malone and Arcelia, occupying an area of 4.5M sq ft.

Fibre2Fashion News Desk (RKS)

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