Future Retail appoints 'Sadashiv Nayak' as new CEO
26th August 2021, Mumbai:
Sadashiv Nayak has been appointed as the new Chief Executive Officer of Future Retail with effect from August 25, 2021.
Nayak has been associated with Future Group for over 17 years. He has been the CEO of Big Bazaar since the last 8 years and has played a pivotal role in the hypermarket’s growth
During his 17-year association with the Future Group, Nayak has worked on various designations. He is an alumnus of NIT Karnataka and XLRI, Jamshedpur. In all, he has over 27 years of experience. Prior to Future Group, Nayak was associated with Hindustan Lever and and Asian Paints
In August last year, the board of FRL approved the amalgamation of FRL along with other group companies with Future Enterprises to facilitate a Rs 24,713 crore deal to sell the retail and wholesale business to Reliance Retail. The deal has been contested by global e-commerce major Amazon, an investor in Future Coupons that in turn is a shareholder of FRL.
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