Managing Director of Spencer’s Retail, Mohit Kampani, has quit from his current role. Kampani was reportedly planning to leave the group last year but his resignation was not accepted then. This time around, Kampani’s decision has been accepted and he will continue his term until July.
When contacted, Spencer’s confirmed the news but refused to share any further information on why Kampani had taken the decision.
However, as per a report in The Economic Times, Kampani decided to move on as he was not able to perform independently and had differences of opinion with the promoters.
Kampani had joined Spencer’s Retail in 2007 as vice-president (operations) and became president and chief executive officer in 2012 after the resignation of then chief Vineet Kapila.
Kampani has over 20 years of experience in consumer facing businesses, of which nine years have been in retail. He started his professional life with Jumbo Electronics in Dubai post which he worked with ICI Paints in India in different roles. Prior to Spencer’s, he had been with Colgate–Palmolive.
Spencer’s had, last year, hired two senior professionals – Vipin Bhandari who was the CEO at HyperCity Retail and joined as deputy CEO; and Nitu Jaiswal who was roped from Walmart India as the marketing head.
No decision has been taken on who will succeed Kampani.