Footwear major Bata India has appointed Nike veteran Sanjay Rao as its new Managing Director and Chief Executive Officer.
The change in leadership at the footwear major comes amid stagnating sales and declining profit is the midst of a turnaround plan involving cutting inventory, streamlining store networks and becoming more appealing to Gen-Z consumers.
Rao succeeds Gunjan Shah, who will conclude his tenure upon completion of his five-year mandate leading the business, Bata India said in a regulatory filing.
Following this announcement of Rao’s appointment, Bata India shares rallied sharply and closed 17% higher at Rs 790.45 apiece.
According to the filing, Rao brings more than two decades of retail and consumer leadership experience across India, South Asia, China and Europe. He joins Bata India from global footwear and sports giant Nike, where he most recently served as Senior Director, Nike Retail, overseeing the France and Benelux markets.
Prior to Nike, Rao spent several years with Inditex, where he played a pivotal role in establishing Zara’s business in India through its joint venture with the Tata Group. He subsequently held senior leadership positions across India, South Asia and China. Rao has also served as Country Director for Guess in France and holds an MBA from INSEAD.
Panos Mytaros, Chief Executive Officer of Bata Group, said that India is one of Bata Group’s most important markets and one of their biggest long-term growth opportunities.
He added that the next chapter must be about becoming even closer to consumers, strengthening their relevance, responding faster to trends and giving consumers the shoes they want for every part of their lives.
“Sanjay brings deep retail and consumer experience, international perspective and a strong understanding of the Indian market. He knows how to build businesses, develop teams and create momentum. I am excited to welcome him to Bata and confident he is the right leader to take Bata India forward into its next phase of accelerated growth,” added Mytaros.
Further details regarding the transition will be disclosed in accordance with applicable regulatory requirements.
Bata India reported a 59.3% decline in net profit to Rs 133.56 crore in the financial year 2026, while revenue from operations rose marginally. The company’s Q4FY26 profit fell 95% year-on-year to Rs 2.2 crore, primarily impacted by Rs 28 crore in Voluntary Retirement Scheme (VRS) charges and a Rs 22.4 crore non-cash forex loss.
