Shoppers Stop Limited announced that Mr. Mahesh Chhabria is appointed as an (Additional) Non-Executive Independent Director of the Company for term of 5 years, with effect from January 23, 2023 to hold the office up to upcoming General Meeting of the Company. Brief Profile: Mahesh Chhabria is the Managing Director at Kirloskar Industries Limited. In his career spanning over three decades, Mahesh has undertaken several leadership roles across private equity and investment banking firms. He is currently driving business strategy & transformation, managing risks, capital allocations, new investments, mergers and acquisitions of Kirloskar Group led by Atul Kirloskar and Rahul Kirloskar.

He mentors some members of the 5th generation of the Kirloskar Family and has been instrumental in shaping the Family Constitution & Succession planning of this arm of the Kirloskar Group. Mahesh sits on the board of Kirloskar Group companies and is the Non-Independent Director of Kirloskar Oil Engines Ltd, Kirloskar Ferrous Industries Ltd., Kirloskar Proprietary Ltd., Kirloskar Pneumatic Company Ltd. and Arka Financial Holdings Pvt. Ltd. He is also the Nominee Director and Chairman on the board of Arka Fincap Ltd., the NBFC arm of Kirloskar Oil Engines Ltd. Mahesh is an Independent Director on the Board of ZF Commercial Vehicle Control System India Limited (Formerly known as WABCO India Limited) and also chairs the Audit committee.

Mahesh's belief in emerging India growth story and corporate India's global aspiration led him to join Actis, a long standing leading private equity fund as a Partner for Industrial and Healthcare investments. Prior to joining Actis, he was a Partner at 3i, another private equity fund for whom he was a Global Lead Partner for healthcare investing. Before 3i, Mahesh had a long stint of 13 years + at Enam, where he held multiple roles and in the last five years there, he was the Co-head of Investment Banking division.

Mahesh holds a Bachelor of Commerce from the University of Mumbai and is an Associate Member of the Institute of Chartered Accountants of India. Mahesh is a relationship builder with strong communication and inter-personal skills. He has an extensive network in several sectors, and is well-known and well regarded among corporates, professional, legal and accounting firms, media and select regulatory bodies.

The company also announced that Mr. Robert Bready has resigned as an Non-Executive Independent Director of the Company due to his pre-occupancy with his other professional commitments. Date of cessation: January 23, 2023.