Department store chain Shoppers Stop, has promoted Rajiv Suri, Chief Executive Officer, to the post of Managing Director in addition to his current profile after Govind Shrikhande resigned from the post. Shrikhande had been serving Shoppers Stop since 2001 in a range of senior executive roles. He is known for his dedicated services and contribution to the company. Meanwhile
Karunakaran Mohanasundaram has been appointed as the Chief Financial Officer of the company.
Shoppers Stop earlier announced plans to invest Rs 60 crores in infrastructure, technology in order to bring the company back on the growth track. It currently operates 80 stores in 38 cities. The rising grip of e-commerce players over Indian consumers has created a tough situation for department stores like Shoppers Stop, which now aims to generate 15 per cent of its revenues from the online channel.