Feb 12, 2016, 02.13 PM | Source: PTI
US retail giant Walmart Stores Inc today 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, Walmart Latin America, India and Africa, effective from February 1.
"This is in addition to his role as President and Chief Executive Officer, 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, who is the Chief Administrative Office 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.