Satish Malhotra, Chief Retail and Operating Officer at Sephora, will take the reins as CEO and President of The Container Store on Feb. 1, 2021. Malhotra will replace retiring CEO Melissa Reiff, who will retain her title as Chairwoman of the Board of Directors until the annual Container Store shareholders’ meeting in late summer 2021.
Malhotra was one of the first executives to join Sephora in its U.S. debut and he has held a variety of leadership roles in 21 years at the beauty retailer. Prior to his current job he was COO, responsible for technology, supply chain, store development, legal, strategy and partnerships, including Sephora inside JCPenney (SiJCP), which now operates more than 600 stores. Malhotra also spent several years overseeing the retailer’s expansion into Canada and Latin America.
“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,” said Reiff in a statement. “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.”