Shoppers Stop Limited announced that Mr. Venugopal G. Nair (Mr. Venu Nair), Managing Director of the company, has tendered his resignation, 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 board of directors of the company at its meeting held on August 24, 2023 has accepted his resignation. To ensure a seamless transition, he will continue to guide and advice the CEO over the next six months, in his capacity as a Company official.

Mr. 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.