Shoppers Stop Limited has announced key changes in its senior management following a board meeting held on February 10, 2026. The retail chain disclosed significant transitions in its Chief Financial Officer position, marking an important leadership change for the company.

CFO Resignation Details

The board noted the resignation of Karunakaran Mohanasundaram from his position as Chief Financial Officer, submitted through a resignation letter dated January 22, 2026. Mohanasundaram cited his decision to pursue alternate career opportunities outside the organization as the reason for his departure.

The Board of Directors placed on record their appreciation for the valuable contribution made by Mohanasundaram during his tenure as Chief Financial Officer. His resignation will be effective from close of business hours on February 17, 2026.

New CFO Appointment

The board has appointed Pankaj Chaturvedi as the new Chief Financial Officer and Key Managerial Personnel, effective April 1, 2026. The appointment was made based on recommendations from the Nomination, Remuneration and Corporate Governance Committee and received approval from the Audit Committee.

Professional Background

Chaturvedi brings substantial experience to his new role, with 25 years of cross-sectoral expertise in finance leadership. He holds qualifications as a Chartered Accountant and possesses a master's degree in commerce. His professional background spans multiple industries including Telecom, Aviation, and Media & Entertainment sectors.

His previous leadership positions include:

• Chief Financial Officer at Saregama India Limited
• Chief Financial Officer at Go Airlines India Ltd
• Key roles at Vodafone, Reliance Jio, and Hitachi

Board Meeting Information

The board meeting that formalized these appointments commenced at 3.40 p.m. and concluded at 3.50 p.m. on February 10, 2026. The company has made this information available on its corporate website and filed the necessary disclosures under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The transition represents a planned leadership change as the company continues its operations in the retail sector, ensuring continuity in its financial management during the handover period between February and April 2026.

Shoppers Stop has announced its business guidance projecting mid-teen revenue growth for FY27, as disclosed during a recent conference call with stakeholders. The guidance reflects the company's strategic outlook for its overall business performance over the medium term.

Business Growth Projections

The management's guidance indicates confidence in the company's ability to achieve sustained growth across its retail operations. The mid-teen revenue growth target for FY27 suggests the company expects to maintain momentum in its business expansion and operational efficiency initiatives.

Conference Call Highlights

During the conference call, the company provided this forward-looking guidance to stakeholders, offering insights into expected business trajectory. The guidance covers the overall business performance expectations, indicating a comprehensive growth strategy across various business segments.

Strategic Outlook

The projected mid-teen revenue growth for FY27 demonstrates the company's strategic planning and business development initiatives. This guidance provides stakeholders with visibility into the company's medium-term performance expectations and growth trajectory planning.