Kishore Biyani is no longer the Managing Director of Future Retail

Future group chairman Kishore Biyani has resigned from the post of Managing Director of Future Retail. He has also resigned from the post of Joint Managing Director and Director of the company.

This is a restructuring to execute the merger Bharti Retail with the company announced last year.

The resignations would be effective from May 1, 2016, Future Retail said in a BSE filing.

However, Kishore Biyani would continue to hold office as non executive director of Future Retail Ltd, it added.

In May last year, Future group agreed to merge its retail business with rival Bharti Retail in an all-stock deal worth Rs 750 crores to create one of the biggest supermarket chains with Rs 15,000 crores turnover.

Image credit: Indiatimes