Mumbai, Aug 25 (IANS) Future Retail on Wednesday announced the appointment of Sadashive Nayak as the CEO the company with immediate effect.

Nayak was the CEO of Big Bazaar for the past eight years.

"The board of directors of the company at its meeting held on Wednesday inter-alia considered and approved the appointment of Sadashiv Nayak as the Chief Executive Officer (CEO) of the Company with effect from August 25, 2021," the company said in a regulatory filing.

Nayak shall also act as a key managerial personnel for the purpose of compliance under the applicable provisions of the Companies Act, 2013.

Nayak has been associated with the Future Group for over 17 years, and for the past eight years he has been the CEO of Big Bazaar. He has worked in various designations during his association with the group.

--IANS rrb/sn/arm