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Venu Nair quits; Kavindra Mishra is new ED & CEO Shoppers Stop

Shoppers Stop Limited today announced the promotion of Kavindra Mishra, Chief Commercial Officer and CEO Homestop, as its Executive Director & CEO, subsequent to the resignation of its Managing Director & CEO, Venu Nair.

Kavindra Mishra was promoted to the post 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 on August 24, 2023. He will serve as an Additional Director of the Company w.e.f. September 1, 2023.

Mishra has been appointed as Executive Director & Chief Executive Officer of the Company for a period of three years effective September 1, 2023, subject to approval of shareholders of the Company.

Venu Nair 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.

EXCLUSIVE INTERVIEW: Customer centricity is our success mantra: Venu Nair, MD & CEO, Shoppers Stop

The Board of Directors of the Company at its meeting 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, beauty and expansion of the Company’s retail network. He leaves a much-strengthened Shoppers Stop. To ensure a seamless transition, he will continue to guide and advice the CEO over the next 6 months, in his capacity as a Company official,” read a statement by the Board.

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.

“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 is 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,” Nagesh said.

Kavindra Mishra’s Rise to ED & CEO

In April this year, Shoppers Stop one of India’s premier fashion and beauty omnichannel destinations, announced the appointment of Kavindra Mishra as Chief Commercial Officer for External Brands and CEO of Homestop.

Mishra has more than 20 years of retail experience and comes from the House of Anita Dongre where he worked as Managing Director. An IIM-Bangalore alumnus, he had earlier stints with leading retail companies like Pepe, ABFRL, Benetton and Arvind among others in leadership positions.

Commenting on his appointment, Mishra had said at that time, “It has always been my desire to continuously learn and upgrade my skill sets to contribute to the organization and teams of which I am a part. In this journey, I am delighted to work with India’s foremost retailer Shoppers Stop and deliver an unmatched consumer experience across formats.”

 

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