Walmart names Krish Iyer as head for India business
13-12-2013
WalMart Stores, the world's largest retailer, on Friday named Krish Iyer as the new president and chief executive officer of its Indian unit, effective January 20.
Iyer will replace Ramnik Narsey, who was appointed interim head of WalMart India in June after the departure of Raj Jain, its long-serving country head.
Iyer joined WalMart's international unit in 2012 as a senior vice-president.
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.
Iyer will replace Ramnik Narsey, who was appointed interim head of WalMart India in June after the departure of Raj Jain, its long-serving country head.
Iyer joined WalMart's international unit in 2012 as a senior vice-president.
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.
