MUMBAI: Shoppers Stop Ltd. today announced the promotion of Homestop, chief commercial Officer and CEO Kavindra Mishra, as its executive director & CEO,aftero the resignation of its managing director & CEO, Venu Nair.
Kavindra Mishra has been promoted to executive director & chief executive officer - Based on the recommendation of the nomination, remuneration and corporate governance committee, the board of directors of the company (“the Board”), at its meeting held today, i.e. on 24 August 2023, approved the promotion and appointment of Kavindra Mishra (DIN: 07068041) as an additional director of the company w.e.f. 1 September 2023. He has also been appointed as an executive director & chief executive officer of the company for three years effective 1 September 2023, subject to the approval of shareholders of the Company.
A brief profile of Mr. Kavindra Mishra is given below :
The chairman of the company, BS Nagesh said “I am delighted that Kavindra Mishra, has been promoted as the executive director and CEO of the company. In the last five months, he has taken over the charge of Homestop and the commercial part of the Shoppers Stop business. His skills as a Business Leader, strategic expertise and overall understanding of the retail industry are an excellent fit for leading the Company as its CEO and setting high standards. Under his leadership and guidance, I am confident about the future growth of the company”
Managing director and chief executive officer Venu Nair has tendered his resignation from his position, effective from the close of business hours of August 31, 2023, due to personal reasons, to enable him to spend more time with his family and explore other options.
The board of directors of the company at its meeting held today has accepted his resignation and placed on record their appreciation for the contribution made by him during his tenure. He has been instrumental in strengthening the business in the post-Covid era, by growing its strategic pillars of fashion, and beauty and expanding the company’s retail network. He leaves a much-strengthened Shoppers Stop. To ensure a seamless transition, he will continue to guide and advise the CEO over the next 6 months, in his capacity as a Company official.
B.S.Nagesh non-executive chairman of the company will handhold during the transition period. He will also mentor and coach the executive director & chief executive officer of the company.
