The retail flagship of RPSanjiv Goenka Group Spencer’s Retail, may appoint Devendra Chawla to the company’s business as its Managing Director and CEO. The post will get filled in after a gap of two years and the appointment comes as Spencer’s Retail gets listed as a separate entity in the stock market last Friday after demerger with CESC.
An alumnus of Harvard Business School, Devendra Chawla will take charge of Spencer’s Retail’s business from next month, as per speculations. Prior to this, Chawla was working with Walmart India as Chief Operating Officer. He has also worked with Future Group India for more than 8 years and has held several roles in the company. Chawla has also worked with brands like Reliance Retail and The Coca-Cola Company.
In his new role at Spencer’s Retail, his responsibilities will be to expedite the company’s breakeven of, work towards profitable expansion and expand the apparel private label business ‘2Bme’ into standalone stores.
However, the appointment is not finalized yet and the company has not made any official announcements.
The post of CEO and MD at Spencer’s Retail has been lying vacant for two years after MD Mohit Kampani moved out in July 2016.
The role of the CEO and the Managing Director for any company is like that of the captain of the ship. Leader at this top post is the one who drives the entire organization and its business towards its key mission and goals. Without strong leadership, a business often loses the sense of direction, impacting the business negatively. The negative implications that the absence of a strong leader can have on business is the reason why companies should be proactive with their succession planning. In fact, lack of adequate succession planning in key roles, can cause major disruption in decision making & hence, affects the core principle of “going concern,” which more often is under-estimated by both investors and boards.
Here are some articles on People Matters that give some tips on how to get succession planning right:
- How to succeed with succession planning
- Dynamics of succession planning
- Getting succession planning right