Shashwat Goenka is appointed as the chairman of the Spencer, by the board of Spencer’s retail.
The company’s revenue collection from operation during the under review positioned as 543.39 crores, against FY22, which was 541.85 crores, according to the stocks.
Spencer’s retail also recorded an increase in net loss of 61.23 crores for the fourth quarter last fiscal year compared to previous year’s 42.47 crores of the same fiscal year.
Shashwat has been in the company as the director on the board, and is the sector head- retail and FMCG of the group.
Sanjiv Goenka was the previous chairman and stepped down from his position on 22nd May, 2023 handing over the position.
In a stock exchange filing, the company stated, ‘As a part of the succession planning and since Shashwat Goenka is overseeing the affairs of the company, Sanjiv Goenka being the non-executive, non-independent director has stepped down from the position of the chairman and the director of the company with effect from close of business hours on May 22, 2023’.