Shoppers Stop Promotes Kavindra Mishra As CEO After Venu Nair Resigns

Shoppers Stop Ltd. has announced the appointment of Kavindra Mishra as the company’s executive director and chief executive officer for a period of three years effective Sept. 1, following the resignation of Venugopal G Nair.

Nair, who has been the managing director and chief executive of the apparel-to-beauty retailer since November 2020, has tendered his resignation on Thursday "to spend more time with his family and explore other options".

The board of the company promoted Mishra, who is currently the chief commercial officer and chief executive officer of the group's home decor and furnishing division, Home Stop. Before joining Shoppers Stop, Mishra has worked as the managing director and chief executive officer of House of Anita Dongre, which has brands like AND, Anita Dongre and Global Desi.

A retail veteran, Mishra was also previously associated with retail brands including Pepe Jeans, United Colors of Benetton, and Tommy Hilfiger.

Mishra was also co-founder in Zovi.Com, a startup funded by Tiger Global and Saif Partners.

To ensure a seamless transition, the company said that Nair will continue to guide and advise Mishra over the next six months in his capacity as a company official. BS Nagesh, the company's non-executive chairman, will handhold during the transition period, Shoppers Stop said in a statement.

Recognising Nair's contribution, the company said: "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."

A former chief executive officer of Tata Group’s Westside and former managing director of Marks and Spencer, Nair led the transformation of Shoppers Stop to an omnichannel retailer.

Shares of Shoppers Stop rose 0.13% on Thursday as compared with a 0.28% decline in the benchmark Sensex.