Retail CFO Summit 2024: Leaders Discuss Future of Retail in Mumbai
The Retailers Association of India (RAI) hosted the ‘Retail CFO Summit 2024’ in Mumbai on August 22, 2024. This event brought together CFOs, CEOs, and finance leaders from the retail industry to discuss the theme: New CFO Checklist: A Roadmap for 10x Growth.
As the retail landscape evolves, the role of CFOs is becoming more critical, focusing on digital innovation, economic resilience, and sustainable growth. The summit provided a platform for industry leaders to exchange ideas, learn from best practices, and strategize for the future.
Engaging panel discussions covered topics such as the strategic role of CFOs in digital transformation, leadership and human capital, regulatory compliance, risk management, and future-ready financial strategies.
Kumar Rajagopalan, CEO of RAI, stated, “As the retail sector undergoes rapid transformation, the role of the CFO is not just to manage finances but to spearhead innovation, ensure resilience, and drive sustainable growth.”
Hrushit Shah, CFO of Westlife Food World Ltd., added, “The retail industry is at a crossroads where financial leadership needs to evolve to meet the challenges of a digital-first world. Our focus must shift towards integrating technological advancements with financial strategies to enhance efficiency and foster growth.”
Doubts Revealed
Retail CFO Summit -: A summit is a big meeting. The Retail CFO Summit is a meeting where important people who manage money for retail companies come together to talk about the future.
CFO -: CFO stands for Chief Financial Officer. This is the person in a company who is in charge of all the money matters.
Retailers Association of India (RAI) -: RAI is a group in India that helps and supports people and companies who sell things in stores.
Mumbai -: Mumbai is a big city in India. It is known for being the financial and entertainment capital of the country.
Digital innovation -: Digital innovation means using new technology to make things better and easier. For example, using computers and the internet to improve shopping.
Economic resilience -: Economic resilience means being strong and able to handle tough times, like when there is less money or a big problem in the economy.
Sustainable growth -: Sustainable growth means growing in a way that can last for a long time without causing harm to people or the environment.
Kumar Rajagopalan -: Kumar Rajagopalan is the CEO of RAI. A CEO is the Chief Executive Officer, the person who runs the whole company or organization.
Hrushit Shah -: Hrushit Shah is the CFO of Westlife Food World Ltd. This means he is in charge of managing the money for this company.
Westlife Food World Ltd. -: Westlife Food World Ltd. is a company that operates McDonald’s restaurants in India.