Bata India Shares Jump 17% After Sanjay Rao Appointed Managing Director and CEO
Bata India shares surged over 17 percent after the company appointed Sanjay Rao as Managing Director and CEO. The former Nike retail executive brings over two decades of global experience across India, Europe, and Asia. The leadership change follows Gunjan Shah’s exit after five years of strengthening operations and consumer focus.
Sanjay Rao joins Bata India from Nike, where he most recently served as Senior Director of Nike Retail, overseeing operations across France and the Benelux region. With more than two decades of experience in retail and consumer leadership, Rao has worked across India, South Asia, China, and Europe. Prior to his tenure at Nike, he was associated with Inditex and played a key role in establishing Zara’s business in India through its joint venture with the Tata Group.
Welcoming the appointment, Bata Group Chief Executive Officer Panos Mytaros said that India remains one of the company’s most important markets and a significant long-term growth opportunity. He noted that Bata India has a strong brand presence, deep consumer trust, and solid foundations, while also emphasizing the need for faster adaptation to changing consumer trends. He stated, “The next chapter must be about becoming even closer to consumers, strengthening our relevance, responding faster to trends and giving consumers the shoes they want for every part of their lives.”
Mytaros further highlighted that Rao brings extensive retail expertise, international exposure, and a strong understanding of the Indian market, expressing confidence that he is the right leader to guide Bata India into its next phase of accelerated growth.
The company and its board also expressed gratitude to outgoing Chief Executive Officer Gunjan Shah for his contributions over the past five years. During his tenure, Shah was credited with strengthening the business, enhancing consumer experience, driving innovation, and building a strong leadership team.
Bata India Chairman Ashwani Windlass also acknowledged Shah’s contributions, stating that his leadership helped reinforce the company’s operational and strategic foundation. Commenting on the new appointment, Windlass said Rao’s diverse background, proven track record, and deep understanding of consumer and retail markets position him well to lead the company into its next phase of growth, with a focus on consumer relevance, product strength, and long-term value creation.
The leadership transition marks a significant phase for Bata India as it seeks to strengthen its market position and accelerate growth in a highly competitive retail footwear sector.

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