PremiumNew Delhi: Tata Group’s Trent Limited on Wednesday announced the appointment of P. Venkatesalu as the company’s chief executive officer and executive director for a period of three years, effective 6 October 2021.
Stephen Rayfield, chief executive officer of the company, has tendered his resignation, Trent Ltd said in its filing to the exchanges.
Venkatesalu was earlier executive director (finance) and chief financial officer at the company that operates the Westside chain of stores.
“The Board of Directors of the Company, on the recommendation of the nomination and remuneration committee has approved the re-appointment of P. Venkatesalu with the designation Executive Director and Chief Executive Officer for a term of three years with effect from 6th October 2021 on fresh terms of re-appointment and remuneration, subject to necessary approvals. He continues to be the Key Managerial Personnel of the company," it said.
Venkatesalu has tendered his resignation as chief financial officer, the company added. Trent will appoint a chief financial officer in due course.
Venkatesalu joined Tata Administrative Services (TAS) in 2001 and was formerly with Tata Sons as a part of the group finance team. "He joined the Company in 2008 and has been with the Company for 13 years and heads the Finance & Accounts, Legal and Secretarial Functions. He is also responsible for strategy and investment activities of the Company. He is also Director of many of the subsidiaries, Joint Venture company and associates of the Company," Trent said.
Trent operates Westside, a chain of fashion retail stores as well as Trent Hypermarket that retails food, grocery, and daily need goods under the Star banner, apart from Landmark Stores and Zudio fashion stores. Through a joint venture with Spain’s Inditex, Trent also operates fashion brand Zara in India.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!