Krish Iyer, just named CEO of Walmart India, is no novice when it comes to retail.
Industry players note that Iyer, a qualified chartered accountant, wandered into retail perchance after he was asked in 1998 by the Piramals to study the feasibility of setting up a mall. There he honed his retail skills for the next seven years. He also took over as Executive Director and CEO of the company in April 1999, successfully concluding an IPO in December 2005.
Kumar Rajgopalan, CEO, Retailers Association of India, noted: “Iyer is a retail industry veteran and understands the sector well. He knows what will work in India and it is this insight which Walmart can cash in on.”
Iyer joined Walmart International as a Senior Vice President in 2012 and, going by his LinkedIn profile, he was last posted in Tokyo on a special project with Walmart Japan/Seiyu G.K.
Early years A commerce and economics graduate from Mumbai University, Iyer spent six years with the AS Watson Group, an international health, beauty and lifestyle retailer, as it managing director. His last seven-month stint at AS Watson was as MD - Thailand and Philippines and RD - Business Development and Store Design.
Iyer’s appointment is part of the major top-level reshuffle at Walmart in the backdrop of challenging sales scenario in the sector. The US retailer and Bharti had ended their six-year joint venture in October. Walmart had opened its last outlet in October last year before putting a brake on expansion plans.
Iyer said: “It is an honour to be named to this role and to have the opportunity to continue to develop Walmart’s business in India.”
Analyst are quick to note that despite naming a new CEO for India, Walmart is unlikely to undertake any significant changes till the general election next year.
bindu.menon@thehindu.co.in