Walmart (NYSE:WMT) has announced the appointment of Krish Iyer as the president and CEO of its India unit effective Jan. 20. Iyer will report to Walmart Asia regional president and CEO Scott Price.
The appointment comes at a time when the Bentonville, Ark.-based retailer is revamping its India operations, seen as a key market. Iyer will oversee Walmart's 20 wholesale stores and is required to find an Indian partner to open supermarkets, according to local laws. Walmart India's former CEO Raj Jain parted ways with the company during a controversial exit in June amid government and internal investigations.
Iyer replaces interim CEO Ramnik Narsey, who will become senior vice president of Walmart International. Narsey will report to David Cheesewright, who earlier this week was announced as president and CEO of Walmart International.
Originally from Mumbai, India, Iyer joined Walmart's international unit in 2012 as a senior vice president. Prior to joining Walmart, he spent six years with A.S. Watson Group, a leading international health, beauty and lifestyle retailer, serving as managing director in Thailand, Taiwan and the Philippines, regional business development director and regional director over store design and development for Asia and Eastern Europe.
For more see:
-This Walmart press release
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