Shoppers Stop checks out a new CFO as Pankaj Chaturvedi steps in

MUMBAI: In a classic case of numbers meeting new narratives, Shoppers Stop has pressed refresh on its finance leadership, appointing Pankaj Chaturvedi as chief financial officer with effect from April 1, 2026.

Chaturvedi will take over from Karunakaran Mohanasundaram, who has held the CFO role since 2018 and is stepping down to explore opportunities outside the company, the retailer said in a statement.

Currently the CFO at Saregama India Ltd, Chaturvedi brings with him a blend of consumer, media and telecom experience. Over the years, he has held senior finance roles at Vodafone and Reliance Jio, giving him a ringside view of large-scale operations, digital transitions and fast-evolving consumer businesses.

At Shoppers Stop, the appointment comes at a time when organised retail is navigating cautious spending, rising costs and sharper competition, making financial stewardship a central part of the growth story. Chaturvedi is expected to oversee the company’s finance strategy as it balances expansion ambitions with tighter margins and changing shopper behaviour.

Mohanasundaram’s departure marks the end of a steady seven-year tenure during which he guided the department store chain through pre-pandemic growth, Covid-led disruption and the gradual recovery that followed.

With a new CFO lined up well ahead of the handover, Shoppers Stop appears keen to ensure continuity at the till, even as it prepares for the next phase of its retail journey.