ABFRL announced significant leadership changes effective throughout 2026 and early 2027. Mr. Suraj Bahirwani is set to become the CEO of Pantaloons across two phases, succeeding Ms. Sangeeta Tanwani, who will retire in 2027 after an advisory role. Additionally, Mr. Nikhil Modha will take over as CFO from Mr. Jagdish Bajaj upon his retirement at the end of 2026. A new CEO for OWND! was also appointed.
Board Approves Key Personnel Transitions
The Board of Directors of Aditya Birla Fashion and Retail Limited (ABFRL), following recommendations from the Nomination and Remuneration Committee (NRC), approved several planned leadership transitions impacting critical business units and senior finance roles during their meeting on Tuesday, March 24, 2026.
1. CEO Succession: Pantaloons Division
The leadership succession for Pantaloons has been formalized:
- Mr. Suraj Bahirwani has been appointed as CEO (Designate) and Senior Managerial Personnel (SMP) effective April 1, 2026.
- He will transition to the role of CEO – Pantaloons and SMP effective October 1, 2026. Mr. Bahirwani brings over two decades of experience, including leadership roles at Aditya Birla Retail and as Head Global Sales at Cellulosic Fibres. He holds a Ph.D. and is a Chartered Accountant.
- Ms. Sangeeta Tanwani, the current CEO – Pantaloons and Whole-time Director (WTD) & Key Managerial Personnel (KMP), will oversee a phased transition. She will continue as CEO-Pantaloons until September 30, 2026.
- Post-transition, Ms. Tanwani will serve as an Advisor to the Managing Director on strategic matters until her retirement on January 31, 2027, at which point she will cease to be WTD & KMP.
2. Appointment: CEO, OWND!
Based on the NRC recommendation, the Board has appointed Mr. Marco Agnolin as CEO – OWND! and SMP of the Company, effective April 6, 2026. Mr. Agnolin is noted as a global fashion retail leader with over 30+ years of experience, including senior roles at Inditex, Bershka, and Diesel.
3. CFO Succession Plan
A phased transition for the Chief Financial Officer role has also been approved:
- Mr. Nikhil Modha is appointed as Chief Financial Officer (Designate) & SMP effective April 1, 2026.
- He will assume the full role of Chief Financial Officer (“CFO”) & KMP effective January 1, 2027. Mr. Modha is a seasoned finance leader with approximately 11 years in key Corporate Finance roles within the Aditya Birla Group since joining in 2015.
- Mr. Jagdish Bajaj, the current CFO & KMP, will oversee this leadership transition until December 31, 2026, after which he will retire and cease his association with the Company.
Meeting Details
The board meeting commenced at 12:00 noon and concluded at 12:46 p.m. on the date of this announcement.
Source: BSE
