Future Retail CEO quits

“Based on the recommendation made by the Nomination and Remuneration Committee of the Company, we hereby inform that Kishore Biyani, who holds the position of Executive Chairman has been re-appointed for a period of three years with effect from April 1, 2022,” it said.

FRL’s director Rahul Garg had earlier resigned from the board. FRL has already defaulted on a payment of Rs 3,494.56 crore to banks in January under the OTR plan and the account has been declared as NPA by the lenders.