Bharti names ex Wal-Mart executive Jain as retail CEO

REUTERS - Bharti Enterprises, which agreed to call off a joint venture with Wal-Mart Stores Inc in the country last October, named a former executive with the U.S. 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 Retail currently operates 212 retail stores in India.

(Reporting by Devidutta Tripathy in New Delhi; Editing by Prateek Chatterjee)