Shoppers Stop MD Rajiv Suri puts in papers amid Covid-19 challenges

Company to be managed by CXO committee in interim period

Shoppers Stop, the country’s oldest department store chain, has seen a top level rejig, with Rajiv Suri (57), managing director (MD) and chief executive officer (CEO), stepping down on Friday. His resignation is effective August 25, the company said in a stock exchange filing. 

The retailer said an expert CXO committee would run day-to-day operations in the interim period. 

Suri’s exit follows a challenging period, triggered by the Covid-19 pandemic and a national lockdown announced in March. The company reported a 10 per cent decline in revenue in the March quarter, prompting it to shut under-performing stores and lay off nearly 15