Private investment group Xander-backed Virtuous Retail Pte Ltd has roped in S Raghunandan as chief executive officer of Indian unit Virtuous Retail Services Pvt. Ltd. Simultaneously, the company also announced the appointment of MN Hariharan as director of finance.

Early this month, VCCircle had first reported the impending management changes at the firm.

Raghunandan has over 30 years of experience and joins Virtuous Retail after serving as CEO Retail of realty firm Prestige Group for the past six years. At Prestige, he was responsible for the shopping centre business, including the joint venture with CapitaMalls Asia. He has also worked with DHL Worldwide Express, RPG, Foodworld and K Raheja Group.

Hariharan comes with over 22 years of industry experience in IT, construction & project management and retail real estate. He joins from Mumbai’s Inorbit Mall where he spent seven years as part of the senior management team working on finance and enterprise resource planning.

Virtuous Retail is a retail-related real estate asset platform sponsored by the Xander Group Inc. Established in 2007, Virtuous Retail’s pan-India portfolio includes prime city centre locations in Bengaluru, Chennai, Mumbai, Pune, Surat and Kolkata. Xander has committed equity worth $600 million to the platform.

(Edited by Joby Puthuparampil Johnson)

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