India’s department store chain Shoppers Stop on Tuesday said it has appointed Pankaj Chaturvedi as the company’s CFO effective April 1, 2026, replacing Karunakaran Mohanasundaram.
Mohanasundaram held the finance chief position since 2018 and is leaving to pursue opportunities outside the company, Shoppers Stop said in a statement.
Chaturvedi is currently the CFO at Saregama India Ltd and has held key roles at Vodafone and Reliance Jio, the company said.
The management change comes at a time when large Indian retailers have been grappling with intensifying competition as well as moderating consumer spending. Shoppers Stop posted a 69% drop in third-quarter profit.
(Reporting by Abinaya Vijayaraghavan and Komal Salecha; Editing by Mrigank Dhaniwala and Ronojoy Mazumdar)
