Future Group’s chief executive officer for small format stores Ramesh Menon tenders resignation

Future Group’s chief executive officer for small format stores Ramesh Menon has put in his papers. The role will be taken over by Future Group’s CEO for North zone Dhananjay Sengupta who will take charge in February. These changes were announced in an internal office circular on Tuesday.

Menon became part of Future Group in last year January after the merger with Hypercity Retail which Future Group acquired in 2017. He was earlier the CEO of Hypercity Retail.

In Future Group, Menon was handling the neighbourhood store of the group business comprising of four brands – Easy Day, Nilgiris, Heritage and Food World which together has over 1100 stores.

As per Menon’s LinkedIn profile, these stores had a combined turnover of Rs 2,000 crore and his role was to grow the network to 10,000 stores with omni-channel capabilities in the next five years. It is not known where Menon is joining next and he could not be reached for his comments.

An MBA from XLRI Jamshedpur, Menon joined Hypercity from Reliance Communications where he was the national head for wireless (GSM) operations. His successor, Sengupta is working with Future Group since 2006 and is also an MBA graduate, as per his LinkedIn profile.

Future Group compete with Reliance, More and Spencer’s in the neighbourhood retail space.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/future-groups-chief-executive-officer-for-small-format-stores-ramesh-menon-tenders-resignation/67581563

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