Shoppers Stop Managing Director and CEO Venugopal 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, the company said in a regulatory filing. Following this, the company promoted Kavindra Mishra, Chief Commercial Officer and CEO of Homestop, as Shoppers Stop Executive Director & CEO, with effect from September 1, 2023. The Board also approved his appointment as an Additional Director of the company.
BS 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,” said BS Nagesh.
Before joining Shoppers Stop as Chief Commercial Officer and CEO – Homestop, Kavindra Mishra was working as the Managing Director and CEO of House of Anita Dongre, which has brands of AND, Anita Dongre and Global Desi. Prior to that, Kavindra Mishra served as the Managing Director at Pepe Jeans India for a period of 6 years and managed the transition of the company from a JV to a 100 per cent subsidiary of Pepe Jeans Global. He was the co-founder of Zovi.com, a startup funded by Tiger Global & Saif Partners. Kavindra Mishra is a Post Graduate Diploma holder from Indian Institute of Management, Bangalore, and he started his retail career with ABFRL.
The Board accepted the resignation of Venugopal Nair during a meeting on Thursday. “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,” the company statement said.
