SHOPPERS STOP NAMES PANKAJ CHATURVEDI AS CFO AMID RETAIL SECTOR PRESSURES

Shoppers Stop has named Pankaj Chaturvedi as chief financial officer from April 1, 2026, succeeding Karunakaran Mohanasundaram. Joining from Saregama India, Chaturvedi brings more than two decades of finance experience across telecom and aviation as the retailer navigates slowing consumer spending and a decline in quarterly profits.

India’s leading department store chain Shoppers Stop has announced the appointment of Pankaj Chaturvedi as its new Chief Financial Officer (CFO), effective April 1, 2026. He will succeed Karunakaran Mohanasundaram, who is stepping down from the role to pursue opportunities outside the company.

Chaturvedi joins the retailer from Saregama India Ltd, where he currently serves as CFO. His appointment comes at a time when India’s organised retail sector is facing mounting pressures, including intensifying competition and signs of moderating consumer spending. The leadership transition also follows a challenging financial quarter for Shoppers Stop, which recently reported a steep 69 per cent drop in profits for the third quarter.

A seasoned finance professional with more than two decades of experience, Chaturvedi has built a career spanning multiple industries, including telecommunications and aviation. Prior to Saregama, he held senior finance roles at major telecom companies such as Vodafone and Reliance Jio, where he worked across strategic finance functions and large-scale business operations.

Throughout his career, Chaturvedi has handled a broad portfolio of responsibilities covering core accounting, financial planning and strategy, treasury management, risk assurance and business finance. His experience across fast-growing and highly competitive sectors is expected to support Shoppers Stop as it navigates evolving market dynamics and works to strengthen its financial resilience.

Academically, Chaturvedi is a Chartered Accountant and holds a Master’s degree in Commerce specialising in Accounting and Finance from Gujarat University. His blend of technical financial expertise and cross-industry exposure positions him to play a key role in guiding the company’s financial strategy in the coming years.

The appointment signals Shoppers Stop’s focus on reinforcing its leadership team during a period of transformation for India’s retail industry. As consumers tighten spending and digital-first competitors intensify pressure on traditional department store models, the company is expected to prioritise sharper financial discipline and strategic investments to sustain growth.