The Container Store said that Satish Malhotra will succeed Melissa Reiff as CEO and president on February 1, 2021. Effective March 1, 2021, Reiff will retire from the company, while retaining her position as chairwoman of the board of directors until the annual meeting of shareholders in late summer 2021.
Malhotra most recently served as the chief retail and operating officer for Sephora. He was one of the first executives to join Sephora in its debut to the U.S. retail landscape and, in his 21 years with the company has grown and supported the business in various leadership roles. Prior to his current role, Malhotra served as chief operating officer for Sephora and was responsible for technology, supply chain, store development, legal, strategy and partnerships, including the Sephora inside J.C. Penney business which now operates over 600 stores. He also spent several years overseeing Sephora’s expansion into Canada and Latin America.
Reiff said, “The board and I have spent months preparing for my planned retirement and, after a thorough and exhaustive search, we are thrilled to announce the appointment of Satish Malhotra as our next CEO and president. Satish is a seasoned retail executive, with decades of diverse and valuable experience, who I believe will be a great fit for our organization. The timing of this leadership transition could not be better, with our company enjoying the success of the multi-year sales and profit revitalization efforts that have driven, and are expected to continue to drive our performance. We have an extraordinarily talented team that I have been privileged to lead, a unique and differentiated business and a long runway for growth ahead. I am delighted to welcome Satish and look forward to watching the continued success of The Container Store under his leadership.”