Premier retailer Shoppers Stop Managing director and Chief Executive Officer, Venugopal G. Nair tendered his resignation with effect from the close of business hours of August 31, 2023, due to personal reasons, the company announced on Thursday.
The board of directors accepted Nair’s resignation to enable him “to spend more time with his family and explore other options.”
“He (Nair) has been instrumental in strengthening the business in the post Covid era, by growing its strategic pillars of fashion, beauty and expansion of the Company’s retail network. He leaves a much-strengthened Shoppers Stop,” the company said about Nair in a press release.
Meanwhile, the company promoted Kavindra Mishra, the Chief Commercial Officer and CEO of Homestop, as its Executive Director & CEO effective from September 1, 2023 upto a period of three years.
Mishra brings to the table vast experience from the industry. He has worked as the MD and CEO of House of Anita Dongre, which houses brands like AND, Anita Dongre and Global Desi.
Prior to this, for a period of 6 years, he has also been the MD of Pepe Jeans India and has managed the transition of company from a JV to a 100% subsidiary of Pepe Jeans Global, thus proving to be instrumental in making Pepe Jeans as a profitable denim brand.
The ET recognised “Inspiring CEO” of 2022, Mishra co-founded also Zovi.Com, a start-up funded by Tiger Global & Saif Partners.
A post-graduate from Indian Institute of Management, Bangalore, Kavindra Mishra has worked at numerous national and international companies and also held key managerial positions.
As for a smooth transitioning Venu Nair, in the capacity of company official, will continue to guide and advice Mishra over the next 6 months. While Shopper Stop’s Non-Executive Chairman, B.S.Nagesh will handhold during the transition period and also mentor and coach the newly appointed CEO.
