CIOInsider India Magazine
Shoppers Stop Appoints Pankaj Chaturvedi as CFO
The department store chain Shoppers Stop named Pankaj Chaturvedi as its new chief financial officer (CFO), starting April 1, 2026. He will take over from Karunakaran Mohanasundaram, who has been the company's finance chief since 2018.
The company announced that Mohanasundaram is resigning to explore opportunities beyond the organization.
The change in leadership arrives during a tough period for India’s retail industry, which is experiencing increased competition from online and offline providers, in addition to indications of slowing consumer expenditure.
According to reports, Shoppers Stop experienced a significant 69 percent drop in its profit for the third quarter, highlighting the difficulties facing the Indian retail sector.
Pankaj Chaturvedi presently serves as the CFO of Saregama India Ltd. He possesses significant experience from the telecom industry, having formerly held high-level roles at Vodafone and Reliance Jio. At Vodafone, he acted as the head of National Business Finance.
Also Read: Say Hello to Champak, the Delightful Addition to IPL Experience
In the last five years, the retailer has produced returns exceeding 94 percent for investors. Nevertheless, the stock has decreased by 31 percent over the past year
Also Read: 5 AI Initiatives by the Indian Government Driving National Growth
With 19 years of experience in finance, Chaturvedi has specialized knowledge in core accounting, planning, business collaboration, treasury, and risk management. He held the position of CFO at Go Airlines (India) until April 10, 2022. In his previous positions, he has also been employed at Hitchati.
Following the announcement of the new CFO, Shoppers Stop’s shares closed on Tuesday, February 10, at Rs.409.2 on the NSE, reflecting an increase of 2.2 percent or Rs.8.8 from the last closing, according to National Stock Exchange (NSE) data.
Also Read: Semicon India 2025: Designing A Self-Reliant Semiconductor Hub
In the last five years, the retailer has produced returns exceeding 94 percent for investors. Nevertheless, the stock has decreased by 31 percent over the past year, according to reports.
