Kishore Biyani reshuffles top management with an eye on Future

KISHORE Biyani’s Future Retail, India’s largest retail house, is undergoing a major restructuring exercise to gear up for competition from the likes of Reliance and Bharti-Wal-Mart. Mr Biyani’s cousin, Rakesh Biyani, is taking over as head of the retail business from him and will be responsible for the four main retail formats of the company—Big Bazaar, Food Bazaar, Central and Pantaloon—each of which will function as independent profit centres with new operational and finance heads. So far, Kishore Biyani was directly looking after these businesses. All existing new businesses like Home Solutions, Depot, Wholesale Club and all future joint ventures and alliances will be under Damodar Mall, who will take charge as the head of incubation and innovation, and will report directly to Kishore Biyani. In addition, the heads of the group’s other four verticles—Future Brand, Future Capital, Future Media, and Future Logistics—will directly report to Mr Biyani. When contacted by ET, a Future Group spokesperson confirmed these developments and said, “As we grow, there is a need for accountability and such restructuring will ensure better top line and bottom line growth.” With the restructuring in place, Future Retail’s flagship venture Big Bazaar will now be headed by Rajan Malhotra. The two other important businesses of Future Retail—Central and Pantaloon—will be headed by Vishnu Prasad and Sanjeev Agrawal, respectively. This restructuring will free Kishore Biyani from day-to-day operational responsibilities and will enable him to focus on the big picture.

Courtesy: EconomicTimes
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