 "Bharti ropes in ex Wal-Mart executive Raj Jain as retail CEO")
Bharti Enterprises, which agreed to call off a joint venture with Wal-Mart Stores in the country last October, named a former executive with the US retailer to head its retail operations.
Raj Jain, who had last year joined the Bharti group as an adviser, was on Friday named chief executive officer of Bharti Retail, effective immediately, the New Delhi-based group said in a statement.
Jain headed Wal-Mart’s Indian unit before leaving the company in June last year.
Bharti Retail also named Pankaj Madan as its chief financial officer (CFO). Madan previously worked as CFO of the Bharti-Wal-Mart wholesale joint venture.
Bharti Walmart had suspended Madan in November 2012 amid a Walmart internal probe to check if its India unit indulged in any corrupt practices.
Jain quit Bharti Walmart in June last as a direct fallout of the Walmart’s internal investigations.
Bharti Retail currently operates 212 retail stores in India.
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