Walmart India which has been in news for not so good reason, has another bad news to share. Raj Jain who has been serving as the President of the Indian operations of world’s largest cash and carry retailer, calls his day.
In a statement on Wednesday, Walmart has named Ramnik Narsey as interim head of its India business. Narsey joined Walmart in 2012, before which he served as the Chairman and CEO of Woolworths India.
Jain has left the company in times when it is having difficulty expanding its presence in the country. Wal-Mart, which has been operational in India since 2009, lobbied for nearly six years to enter the Indian retail market. In September 2012, India finally allowed global supermarket players to set up 51 percent-owned retail outlets.
Walmart in India operates under a JV with Bharti Enterprise and has 20 Bharti Walmart stores across the country.
- Walmart India head Raj Jain quits; Ramnik Narsey is interim chief (firstpost.com)
- Walmart India head Raj Jain quits (profit.ndtv.com)
- Wal-Mart India head leaves (thehindu.com)