Bata India jumps 16% as Nike Retail veteran Sanjay Rao takes CEO seat
Sanjay S Rao joins Bata India as CEO from 24 August, replacing Gunjan Shah. Market cheered the Nike Retail executive's appointment with a 16.5% rally to ₹790.45, betting on a Gen-Z sneaker pivot and digital push targeting 25% online sales in three years after a 95% Q4 profit drop.
Bata India shares jumped 16.5% after appointing Sanjay S Rao, a senior Nike Retail executive, as CEO from 24 August, replacing Gunjan Shah. Rao will lead the footwear retailer's Gen-Z pivot, sneaker push and digital expansion turnaround.