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Shoppers Stop Ltd announces changes in its leadership positions
MUMBAI: Shoppers Stop Ltd. today announced the promotion of Homestop, chief commercial Officer and CEO Kavindra Mishra, as its executive director & CEO,aftero the resignation of its managing director & CEO, Venu Nair.
Kavindra Mishra has been promoted to executive director & chief executive officer – Based on the recommendation of the nomination, remuneration and corporate governance committee, the board of directors of the company (“the Board”), at its meeting held today, i.e. on 24 August 2023, approved the promotion and appointment of Kavindra Mishra (DIN: 07068041) as an additional director of the company w.e.f. 1 September 2023. He has also been appointed as an executive director & chief executive officer of the company for three years effective 1 September 2023, subject to the approval of shareholders of the Company.
A brief profile of Mr. Kavindra Mishra is given below :
The chairman of the company, BS Nagesh said “I am delighted that Kavindra Mishra, has been promoted as the executive director and CEO of the company. In the last five months, he has taken over the charge of Homestop and the commercial part of the Shoppers Stop business. His skills as a Business Leader, strategic expertise and overall understanding of the retail industry are an excellent fit for leading the Company as its CEO and setting high standards. Under his leadership and guidance, I am confident about the future growth of the company”
Managing director and chief executive officer Venu Nair has tendered his resignation from his position, effective from the close of business hours of August 31, 2023, due to personal reasons, to enable him to spend more time with his family and explore other options.
The board of directors of the company at its meeting held today has accepted his resignation and placed on record their appreciation for the contribution made by him during his tenure. He has been instrumental in strengthening the business in the post-Covid era, by growing its strategic pillars of fashion, and beauty and expanding the company’s retail network. He leaves a much-strengthened Shoppers Stop. To ensure a seamless transition, he will continue to guide and advise the CEO over the next 6 months, in his capacity as a Company official.
B.S.Nagesh non-executive chairman of the company will handhold during the transition period. He will also mentor and coach the executive director & chief executive officer of the company.
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Paramount set to acquire Warner Bros. Discovery in $81 billion deal
Shareholders back merger, combined entity could reshape streaming and studios.
MUMBAI: Lights, camera… consolidation, Hollywood’s latest blockbuster might be happening off-screen. Shareholders of Warner Bros. Discovery have voted in favour of selling the company to Paramount in a deal valued at $81 billion rising to nearly $111 billion including debt setting the stage for one of the biggest shake-ups in modern media. The proposed merger, still subject to regulatory approvals, would bring together a vast portfolio spanning HBO Max, CNN, and franchises such as Harry Potter under the same umbrella as Paramount’s own heavyweights, including Top Gun and CBS.
At the heart of the deal is streaming scale. Executives have indicated plans to combine HBO Max and Paramount+ into a single platform, potentially creating a stronger challenger to giants like Netflix and Amazon’s Prime Video. Current market data suggests HBO Max holds around 12 per cent of US on-demand subscriptions, compared to Paramount+’s 3 per cent, together still trailing Netflix’s 19 per cent and Disney’s combined 27 per cent via Disney+ and Hulu.
Paramount CEO David Ellison has signalled that while platforms may merge, HBO’s creative identity will remain intact, stating the brand should “stay HBO” even within a broader ecosystem.
Beyond streaming, the deal would redraw the map for film production. Combining two of Hollywood’s oldest studios Paramount Pictures and Warner Bros., the new entity aims to scale output to over 30 films annually, while maintaining a 45-day theatrical window. Warner Bros. currently commands around 21 per cent of the US box office, compared to Paramount’s 6 per cent, underscoring the strategic weight of the acquisition.
But scale comes with scrutiny. Critics warn that fewer players could mean reduced consumer choice, rising subscription costs, and potential job cuts as the combined company looks to streamline overlapping operations while managing billions in debt.
The news business, too, faces a reset. CNN would join forces at least structurally with Paramount-owned CBS, raising questions about editorial independence and positioning. The merger has already drawn political attention in the United States, particularly given perceived ties between the Ellison family and Donald Trump, though the company maintains that newsroom autonomy will be preserved.
If approved, the deal would mark another milestone in Hollywood’s consolidation wave shrinking the industry’s traditional “big six” studios to a “big four”, with Paramount joining Disney, Universal, and Sony at the top table.
In an industry built on storytelling, this merger may well become its most consequential plot twist yet.
