INDIA: Bharti Retail appoints Wal-Mart exec Jain as CEO
Bharti Retail has appointed the former head of Wal-Mart India, Raj Jain, as its CEO.
Jain has taken up the role with immediate effect, reporting to Rajan Bharti Mittal, vice chairman and managing director of parent company Bharti Enterprises.
The retailer has also appointed Pankaj Madan as CFO. The executive was suspended from Bharti Wal-Mart in 2012 in the wake of investigations of corruption allegations by Wal-Mart.
Bharti Enterprises and Wal-Mart parted ways to in October last year to operate retail stores independently in India, ending speculation over the future of their six-year partnership.
Commenting on the appointments, Mittal said: "Bharti is committed to building a world-class retail venture and we are delighted to have Raj and Pankaj on board. I am confident that their rich experience and insights into the retail business will add immense value to company's growth plans. I wish them the very best in their new roles and look forward to working with them."
Prior to this appointment, Jain was an advisor to Bharti Enterprises and also held the position of managing director and CEO of Bharti Wal-Mart for over six years.
Bharti Retail currently operates 212 stores in neighbourhood and compact hypermarket formats.
Wal-Mart Stores, Inc. (WMT) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by...
In 2008, the US-based multinational company Wal-Mart Stores acquired the Chilean hypermarket, supermarket and retail company D&S, which already owned more than 250 stores across the country. Every yea...
Retail giant Wal-Mart is expanding its technology centre in India and has hired a former Oracle executive to head up the operations....
Wal-Mart de México SAB de CV is the leading and most influential chained grocery retailer in Mexico. The company’s strategy is based on offering a wide range of products at affordable prices. Conseque...
Brand management company Sequential Brands Group has acquired Galaxy Brand Holdings for US$100m in cash....
In 2013 the global economic slowdown severely affected the performance of multinational companies in some of the major markets, such as the US and Europe. As a result, many of these players shifted th...
- Indian apparel exporters discuss policy changes
- Clothing seen as central focus for new Tesco CEO
- INTERVIEW: David Nieper pushes Made in UK momentum
- MYANMAR SNAPSHOT: Textile and apparel industry
- Is China's dream becoming a nightmare scenario?
- Crystal Group improves worker communication
- TIMELINE: Charney ousting from American Apparel
- European MEPs call for more TTIP transparency
- ILO backs Burma project to improve work practices
- UN rights expert urges further Cambodia reforms