Aditya Birla Fashion and Retail Limited (ABFRL) has announced significant changes in its Key Managerial Personnel (KMP) structure, effective March/April 2026. The announcements detail the succession plans for the CEO of Pantaloons, the appointment of a new CEO for OWND!, and the transition for the Chief Financial Officer role. These strategic changes ensure phased leadership continuity across major business verticals, with retirements scheduled for late 2026 and early 2027.
Board Approves Major Leadership Changes
The Board of Directors of Aditya Birla Fashion and Retail Limited (ABFRL), following recommendations from the Nomination and Remuneration Committee (NRC), approved several key appointments and leadership transitions during their meeting held on Tuesday, March 24, 2026.
1. CEO, Pantaloons – Succession
New Appointments
- Mr. Suraj Bahirwani has been appointed as CEO (Designate) – Pantaloons and Senior Managerial Personnel (SMP) effective April 1, 2026.
- His appointment will transition to CEO – Pantaloons and SMP effective October 1, 2026.
- Mr. Suraj Bahirwani brings over two decades of experience across strategy and retail operations, having joined the Group in 2002. He holds a Ph.D. from Mumbai University and is a Chartered Accountant.
Outgoing Leadership Transition
- Ms. Sangeeta Tanwani, the current CEO – Pantaloons and Whole-time Director (WTD) & KMP, will oversee a phased leadership transition.
- She will continue as CEO-Pantaloons until September 30, 2026.
- From October 1, 2026, till January 31, 2027, she will serve as an Advisor to the Managing Director on strategic matters.
- Ms. Tanwani will cease to be WTD & KMP upon closure of business hours on January 31, 2027, upon retirement.
2. CEO, OWND! – Appointment
Based on the NRC recommendation, the Board appointed Mr. Marco Agnolin as CEO – OWND! and SMP of the Company, effective April 6, 2026.
- Mr. Agnolin is a global fashion retail leader with over 30 years of experience, including senior roles at Inditex, where he helped build Zara’s presence in Italy, and served as CEO of Bershka and Diesel.
3. Chief Financial Officer – Succession
New Appointments
- Mr. Nikhil Modha has been appointed as Chief Financial Officer (Designate) & SMP, effective April 1, 2026.
- He will assume the role of Chief Financial Officer (CFO) & KMP effective January 1, 2027.
- Mr. Modha is a seasoned finance leader with over 26 years of experience and has been with the Group since 2015, currently serving as President – Corporate Finance at Aditya Birla Management Corporation Private Limited.
Outgoing Leadership Transition
- Mr. Jagdish Bajaj, CFO & KMP, will oversee a planned transition until December 31, 2026.
- He will retire from services and cease to be CFO & KMP effective from the closure of business hours on December 31, 2026.
Meeting Conclusion
The Board meeting commenced at 12:00 noon and concluded at 12:46 p.m. The above information is being made available on the Company’s website.
Source: BSE
