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Two months after it dissolved its local partnership with the Bharti Group, US retail giant Walmart has appointed Krish Iyer to head its India operations.
Iyer replaces interim CEO Ramnik Narsey and will report to Walmart’s Asia Regional President and CEO, Scott Price. Narsey will work under David Cheesewright, the incoming President and Chief Executive Officer of Walmart International.
“Krish will be responsible for leading the growth and success of our India operations while also continuing to develop our future retail strategy there,” said Price in a statement.
Iyer joined Walmart in 2012 as Senior Vice-President, after spending six years at A.S. Watson, a retailing unit of Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa Ltd. He was also Managing Director and CEO at Piramyd Retail Ltd.
The Bentonville, Arkansas-based $470-billion firm’s growth in the Indian market has been rather turbulent following opposition to its entry by various political parties, cases of lobbying, and a dissolved partnership with Bharti, through which it had entered the country in 2007.
Walmart has 20 cash-and-carry or wholesale stores, named Best Price Modern Wholesale Store, in India.
The management changes come after Walmart elevated Doug McMillon to replace Mike Duke as CEO and David Cheesewright as head of international operations.
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