Mumbai: Shoppers Stop has elevated chief executive Rajiv Suri as its managing director, replacing Govind Shrikhande who will step down by June end. Shrikhande was with the department store chain since 2001. Suri was appointed as the CEO of the company in January this year. Chandru Raheja, Promoter and Chairman also announced his retirement from the current position with BS Nagesh taking his role.
“The Board is confident that Rajiv’s rich experience in the retail sector will help us to steer the business growth while enhancing experience for our customers and adding value to all our stakeholders,” said B S Nagesh, who was also elevated from his current role as Non-Executive Vice Chairman to the Non-Executive Chairman of the company with immediate effect.