The Indian arm of the US-based Walmart soon will get new CEO as the incumbent Krish Iyer is all set to retire. Company’s present chief business officer and deputy CEO –Sameer Aggarwal, will be taking over the post of Walmart India.
Aggarwal joined Walmart in April 2019 after working for a brief period with Yum! Brands. He is credited for synergizing Walmart and Flipkart. After his elevation to the new post, all the functions in the Walmart India will report to him.
Commenting on the alterations in the organisational structure in the company the spokesperson of the Walmart stated, “Sameer Aggarwal has been appointed deputy CEO, Walmart India effective January 1, 2020. He will continue reporting to Krish Iyer, President & CEO Walmart India and oversee operations, merchandising, people, marketing, real estate, kirana development program, digital, e-commerce and strategy”.
On the other hand, Krish Iyer has been associated with the US retail giant for the past seven years. Initially, he joined the company as the senior VP with the Walmart International. Subsequently, he was promoted to the post of president and CEO of the Walmart India for around six years. He has helped the company is expanding its legs in India.
In 2018, Walmart acquired a majority stake in the Bangalore based e-commerce company -Flipkart. The acquisition concluded at $16 billion following a bidding war between the two giants Walmart and Amazon. At present, Walmart controls 77 per cent of total shares in Flipkart.
