BS Nagesh joins Marico as non-executive independent director

The Board of Directors of Marico Limited has inducted B. S. Nagesh, Customer Care Associate & Vice Chairman of Shoppers Stop Limited, as a Non-Executive Independent Director. He fills the casual vacancy caused by Bipin Shah's retirement from the Board of Directors of the Company, in January, 2010.

Nagesh has been the guiding force behind Shoppers Stop and one of the pioneers of Modern Retail in India. From the first store set up in Andheri, Mumbai, in 1991, he has led Shoppers Stop to become the largest chain of large format department stores in the country, with 28 stores in 12 cities. He also helped set up operations of India's largest hypermarket - HyperCity, which was launched in May 2006. He played a role in bringing overseas brands such as MAC and Mothercare into the country.

Under his leadership, Shoppers Stop has acquired and successfully scaled up, the Crossword chain of bookstores. Nagesh has been recognized, at various business leadership fora, for his leadership and vision for the retailing industry in India. At the World Retail Congress 2008, conducted in Barcelona, he was recognized as an iconic retailer and was inducted into the "World Retail Hall of Fame'.

Other members on Marico's Board of Directors are Rajeev Bakshi, Atul Choksey, Nikhil Khattau, Anand Kripalu, Rajen Mariwala, Hema Ravichander and Harsh Mariwala.