Walmart rejigs biz structure, moves India unit to EM portfolio

Also appointed Enrique Ostal as executive VP and CEO -- Walmart Latin America, India and Africa, effective from February 1

US retail giant Walmart Stores Inc on Friday realigned its business structure, by removing India unit from Asia region and moving it to emerging markets portfolio.

The firm also appointed Enrique Ostal as executive vice-president and chief executive officer (CEO) -- Walmart Latin America, India and Africa, effective from February 1.

"This is in addition to his role as president and CEO -- Walmart Mexico, Central America and LATAM (Latin America)," the company said in a statement.

Walmart International President and CEO David Cheesewright said:" Enrique's experience is perfectly suited for aligning our emerging markets with our core business strengths while serving our customers uniquely and in the most efficient ways."

With this change, Walmart India President and CEO Krish Iyer will report to Enrique.

Scott Price, the chief administrative officer of Walmart International as well as president and CEO of Walmart Asia, will continue to lead businesses in China and Japan.

Walmart runs 21 cash and carry stores under brand Best Price across nine states in India.