The Chairman of the Company, BS Nagesh said that “I am delighted to welcome Venu as Managing Director and CEO. Venu has an exceptional leadership track record, strong international exposure, deep strategic expertise, and proven experience of driving transformation and managing technological disruption, which is the need of the hour. We believe that Venu is the right person to lead Shoppers in this critical phase and its next phase of growth.”
The company said, Venu, is an International Retail Leader with 27 years of rich and varied experience in the Retail & Apparel Industry across South Asia & Europe and presently, operating as CEO of Westside at Trent Limited. Prior to Westside, Venu was the MD of Marks & Spencer Reliance Pvt. Ltd. In his earlier tenures, he has held Leadership roles with various corporates Marks & Spencer Plc, Madura Garments and Arvind Mills.
Venu is a Bachelor of Technology (Hon) from NIT, Calicut and an MBA in Marketing from S.P. Jain Institute of Management and Research, Mumbai.
Meanwhile, Shoppers Stop Board approves raising Rs300cr through a rights issue. Further, the Board has constituted the Right Issue Committee of Board of Directors and authorized it to proceed with Rights Issue forthwith, and inter-alia, decide the other terms and conditions of the Rights Issue, as may be required, from time to time.