Shoppers Stop Ltd. (NSE: SHOPERSTOP | BSE: 532638) has reported that Mr. 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. 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.
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.
Shoppers Stop Ltd. is the nation’s leading premier retailer of fashion and beauty brands established in 1991. Spread across 90 department stores in 44 Cities, the company 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. Shoppers Stop is home to one of the country's longest running and most coveted loyalty program 'First Citizen'.
The company’s one-of-a-kind shopping assistance service, 'Personal Shopper' is revolutionising the way Indians shop; bringing more value, comfort and convenience to customer experiences. The brands diversified Omni channel offering spans over 600+ recognised and trusted brands across an incomparable range of products that together serve our overarching objective of delivering customer delight