Shoppers Stop, India's leading fashion retailer, announced the promotion of Salil Nair to chief executive officer (CEO) of the company effective Mar. 01. 2014.
 
In his new role as CEO, Salil Nair will be responsible for leading the development and implementation of the company's strategy, store operations, technological innovation, and more.
 
Speaking on the occasion, Govind Shrikhande, customer care associate & managing director of Shoppers Stop said, ''I am proud and delighted to announce the promotion of Salil Nair to CEO of Shoppers Stop. Salil has been a strong pillar throughout our journey.  In his last few years as COO, he has shown exceptional passion and has helped create a world-class shopping experience for our customers. He has put together a strong team of eager minds who match our service philosophy.  I am confident that his vision and leadership will help the company grow by leaps and bounds.''
 
Salil Nair, customer care associate & chief executive officer, Shoppers Stop said, ''I appreciate the trust and confidence that Mr. Shrikhande and the Board have placed in me. I am excited with this new opportunity and all the possibilities that lie ahead of us. I stay committed to the company's vision to be a global retailer in India and maintain our number 1 position in the department store category.''

Shares of the company declined Rs 4.75, or 1.22%, to settle at Rs 383.25. The total volume of shares traded was 210 at the BSE (Wednesday).