The former president of Walmart India, Raj Jain, has been appointed chief executive at Bharti Retail, the retail venture of the US firm's former local partner in India, Bharti Enterprises.
Jain (pictured) headed Wal-Mart's Indian unit before leaving the company in June last year. Jain will now report to Rajan Bharti Mittal, vice-chairman and managing director, Bharti Enterprises, a company statement said on Friday.
Bharti Retail also named Pankaj Madan as its chief financial officer. Madan previously worked as CFO of the Bharti-Wal-Mart wholesale joint venture.
News outlet DNA India quoted Mittal as saying he is "confident that their rich experience and insights into the retail business will add immense value to company’s growth plans.”
In October 2013, Bharti and Wal-Mart had ended its six-year-old partnership in wholesale operations and had decided to operate independently.
Bharti Retail currently operates 212 retail stores in India.
© 2013 - European Supermarket Magazine by Enda Dowling
