Shoppers Stop CFO Sanjay Chakravarti Leaves, new CEO Rajiv Suri Takes Charge

RETAIL NEWS

Shoppers Stop CFO Sanjay Chakravarti Leaves, new CEO Rajiv Suri Takes Charge


January 25, 2017

Indian fashion retail chain Shoppers Stop has announced that its chief financial officer (CFO) Sanjay Chakravarti will step down from the post on and new CEO will Rajiv Suri take charge. Shoppers Stop had been operating without a full-time CEO for almost a year after Sahil Nair resigned in January last year. Rajiv takes charge of the company at a time when the revenues are plummeting and losses mounting. Shoppers Stop Limited revenue for the second quarter ended September 30 was down 12 percent to Rs 838 crore (approx $128.8 million) while net loss was Rs 21.8 crore (approx $3.4 million).