Mumbai: Future Group's retail arm Future Retail Ltd has announced the appointment of Sadashiv Nayak as chief executive officer (CEO), with immediate effect.

Nayak shall also act as key managerial personnel (CEO) for the purpose of compliance under applicable provisions of the Companies Act, 2013, the company said in a regulatory filing.

Nayak has been associated with Future Group for over 17 years. He has worked at various designations during his association with the group and has been the CEO of Big Bazaar for the last eight years. During his role, Nayak has played a pivotal role in making Big Bazaar what it is today, the company further stated.

Prior to Future Group, he has worked with Future Consumer Ltd, Hindustan Unilever Ltd, and Asian Paints Ltd. He commands over 27 years of experience in the retail industry.

Nayak holds an engineering degree in electronics & communications from the National Institute of Technology, Karnataka. He also holds a post-graduate diploma in business management from XLRI, Jamshedpur.