Image Source: MediaNews4U
Saregama India Ltd has announced the resignation of its Chief Financial Officer, Pankaj Chaturvedi. He will be joining Shoppers Stop as CFO effective April 1, 2026. This transition marks a significant leadership shift for both companies, reflecting evolving strategies in India’s retail and entertainment sectors.
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Saregama India Ltd, one of India’s oldest and most respected music labels, confirmed that its CFO Pankaj Chaturvedi has stepped down from his role. The announcement comes as Chaturvedi prepares to take over as Chief Financial Officer at Shoppers Stop, a leading retail chain, beginning April 2026.
Key Highlights
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Chaturvedi has been serving as CFO at Saregama India Ltd, overseeing financial planning and corporate governance.
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He will replace Karunakaran Mohanasundaram at Shoppers Stop, who exits after holding the CFO position since 2018.
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The move comes at a time when Shoppers Stop is navigating intense competition and moderating consumer spending, with its latest quarterly profit dropping 69 percent.
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Chaturvedi’s prior experience includes senior finance roles at Vodafone and Reliance Jio, adding depth to his retail and telecom expertise.
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For Saregama, this leadership change signals a period of transition as the company continues to expand its digital music and entertainment footprint.
Sources: Reuters, The Economic Times
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