U.S.-based retail giant Wal-Mart on Wednesday said its head of Indian business Raj Jain has left the company, while naming Ramnik Narsey as the interim head of the unit here.
“…effective immediately, Ramnik Narsey, senior vice president for Wal-Mart International, will serve as interim leader for Wal-Mart’s business in India. He is replacing Raj Jain, who is no longer with the company,” Wal-Mart said in a statement without explaining the change.
Mr. Jain has been with the company for over six years. During his tenure, wholesale cash-and-carry joint venture with Bharti Enterprises, back-end services and consulting businesses were established.
Mr. Narsey joined Wal-Mart in May 2013. Prior to this, he served as chairman and chief executive officer for Woolworths India.
“Mr. Narsey brings significant management and leadership experience to the role,” Scott Price, president and chief executive officer for Wal-Mart Asia said.
“We remain optimistic about our business in India and look forward to our future in India under Mr. Narsey’s leadership,” he added.