Retail News India: Walmart Stores, the world’s largest retail chain, today named its senior vice president, Walmart International, Krish Iyer, as the new president and chief executive officer of its Indian unit, with effect from 20 January 2014.
Krish IyerIyer will succeed Ramnik Narsey, who was appointed interim head of Walmart India in June after the departure of Raj Jain, its long-serving country head.
“Iyer, who will report to Walmart Asia regional president and CEO Scott Price, will replace interim CEO Ramnik Narsey, who is taking a new role as senior vice president, Walmart International,” it said in a statement.
Narsey will now report to David Cheesewright, the incoming president and chief executive officer for Walmart International.
Scott Price said, “Krish will be responsible for leading the growth and success of our India operations while also continuing to develop our future retail strategy there.”
Originally from Mumbai, Iyer joined Walmart International as a senior vice-president in 2012.
Prior to Walmart, he spent six years with the A S Watson Group, a leading international health, beauty and lifestyle retailer, serving as managing director in Thailand, Taiwan and the Philippines and regional business development director and regional director for store design and development for Asia and Eastern Europe.
Earlier, Iyer was managing director and chief executive at Piramyd Retail Ltd. Iyer is a chartered accountant.
Bentonville, Arkansas-based Walmart, which focuses on wholesale business in India, earlier called off its Indian joint venture with Bharti Enterprises in October.
Late last year, the Indian joint venture suspended employees, including the chief financial officer, as part of an internal investigation into bribery allegations in India and subsequently brought in a team of lawyers from a US firm to strengthen compliance.
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