HyperCITY CEO Levermore quits

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HyperCITY chief executive Andrew Levermore, after four years in the position, has quit. As CEO, Andrew Levermore was responsible for the entire gamut of operations at HyperCity. With 23 years of experience in luxury and value retail, Levermore was in executive buying and merchandising management with Macro, South Africa, prior to joining K Raheja Corp.

However, HyperCity had already made an annoucement earlier in August about Levermore. According to the company statement issued in August this year, Levermore, along with his family, will be returning back to South Africa at the end of December 2008 for domestic reasons. However, Levermore will remain on the board of HyperCity as a non-executive director.

Meanwhile, Levermore is understood to be joining Woolworth, South Africa, sources said.

HyperCITY Retail is part of Mumbai-based K Raheja Corp Group. Late last week, K Raheja group promoted Shoppers Stop has been allowed by the promoters of HyperCity Retail (India) Ltd to acquire the remainig 32 per cent equity share capital of HyperCity till June 30, 2010. Earlier, the option was valid till December 31, 2008.

HyperCity offers food and grocery, general merchandise and apparel to its customers at great value in a large and modern format. It also offers other value added services like consumer finance, ATM facility, telecom services, pharmacy, bakery and restaurants, all under one roof. Currently, HyperCITY operates three stores in Mumbai, Navi Mumbai and Triton Mall in Jaipur, Rajasthan.

— IndiaRetailing Bureau

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