Govind Shrikhande will step down as managing director of Shoppers Stop Ltd. effective June 30 as part of a board rejig at the retail chain.
Shrikhande has tendered his resignation to pursue other interest, his personal commitments and other engagements, Shoppers Stop said in an exchange filing today.
Chief Executive Officer Rajiv Suri has been appointed as an additional director and managing director of the company for a period of three years starting June 8, subject to approval of shareholders, the filing added.
Promoter Chandru L Raheja also resigned as non-executive chairman and director with immediate effect citing increasing personal engagements and seniority. He had served as chairman for more than two decades. He will be replaced by BS Nagesh, who is currently the non-executive vice chairman at Shoppers Stop.
Other changes in the board include:
- Abanti Sankaranarayanan, has tendered her resignation as an independent director of the company.
- Ameera Shah has been appointed as an additional director for a period of five years with effect from June 8.