Shoppers Stop CEO Rajiv Suri resigns

The board has requested the company's nomination remuneration and corporate governance committee to identify and recommend a suitable candidate for the leadership position, it added. "In the interim period, the company shall be managed by an experienced CXO committee to ensure the stability of operations and strategic initiatives," it said.

Retail firm Shoppers Stop on Friday said its Managing Director and Chief Executive Officer Rajiv Suri has resigned citing personal reasons. The company's board in a meeting on Friday accepted Suri's resignation, said the K Raheja Corp group firm in a regulatory filing.

"Rajiv Suri, managing director and chief executive officer of the company, has tendered his resignation for personal reasons, effective August 25, 2020, to pursue a career in a company outside India," the company said. The board has requested the company's nomination remuneration and corporate governance committee to identify and recommend a suitable candidate for the leadership position, it added.

"In the interim period, the company shall be managed by an experienced CXO committee to ensure the stability of operations and strategic initiatives," it said. Shoppers Stop is a retailer of fashion and beauty brands, and operates 90 department stores in 44 cities.

The company had reported a revenue of Rs 3,380.98 crore for 2019-20..