Retail Latest News India: With arrangements to open 50 stores in India starting one year from now in organization with Arvind bunch, US-based strength youngsters attire retailer The Children’s Place Inc has now reserved in previous Reliance Retail official Anurup Pruthi as CFO with a million-dollar pay parcel.
Pruthi, 46, has in excess of two many years of budgetary mastery and served as CFO at RIL’s USD 2.5 billion retail business. Preceding that, he was with Future Group and has likewise worked with Burberry PLC and Mexx Europe Holding previously.
Pruthi has been contracted by The Children’s Place at a yearly compensation of USD 500,000, a yearly execution based money reward opportunity (at target) starting in financial 2015 equivalent to 60 for every penny of base pay and a period vested confined stock unit recompense covering 5,000 shares, among others, as indicated by an administrative recording of the US-based firm.
Pruthi is joining as Senior Vice President and Chief Financial Officer, compelling December 1, 2014, the organization said, while adding that he would appear for Michael Scarpa, Chief Operating Officer.
“I have worked with Anurup for a long time. He brings an abundance of pertinent industry aptitude and I am exceptionally satisfied to welcome him to The Children’s Place,” said Scarpa in an announcement.
In August, the organization had declared that it entered into an establishment concurrence with Arvind Lifestyle Brands Limited to open stores in India, with the possibility to open 50 stores about whether starting in the Fall of 2015.
The Children’s Place will be the first of its kind kids retail organize in India. The organization works in excess of 1,100 stores in the US, Canada and Puerto Rico, other than an online store and 67 universal stores ‘open and worked’ by its Franchise accomplices.