Shoppers Stop has appointed Pankaj Chaturvedi as its new Chief Financial Officer (CFO), effective April 1, 2026, replacing Karunakaran Mohanasundaram, who is stepping down to pursue opportunities outside the company. Chaturvedi joins from Saregama India Ltd, where he currently serves as CFO, and brings experience from senior finance roles at companies including Vodafone and Reliance Jio.
The leadership change comes at a time when Indian retailers are navigating competitive pressures and moderating consumer spending, with Shoppers Stop reporting a significant drop in third-quarter profit.
A seasoned finance executive, Chaturvedi brings extensive experience from the telecom and aviation sectors. He is a Chartered Accountant by training and holds a Master’s in Commerce (Accounting and Finance) from Gujarat University. He has around 20+ years of professional experience spanning core accounting, planning and strategy, treasury, risk assurance, and business finance.
His appointment at Shoppers Stop comes amid challenges in India’s retail sector, including intensifying competition and moderating consumer spending. Shoppers Stop recently reported a 69% drop in quarterly profits.
