Shoppers Stop stock falls 13% after CEO resigns

New Delhi: Shares of Shoppers Stop tumbled 13 per cent on Friday after the resignation of its Managing Director & CEO Venugopal G Nair.

The stock tanked 12.64 per cent to settle at Rs708.85 apiece on the BSE. During the day, it fell by 13.56 per cent to Rs701.35. On the NSE, it cracked 13 per cent to end at Rs706 per share. Shoppers Stop Limited on Thursday announced the promotion of Kavindra Mishra, Chief Commercial Officer and CEO Homestop, as its Executive Director and CEO, subsequent to the resignation of its Managing Director & CEO, Venu Nair.