Reliance Retail loses 2 top execs to Wal-Mart

Reliance Retail (RRL) has lost two senior executives to Wal-Mart signalling another round of hectic movements in India’s emerging retail sector. S Ramesh, head of buying operations at RRL is learnt to have put in his papers and joining Wal-Mart as head of sourcing operations. Another executive Abhinandan Shukla, looking after confectionery, is also learnt to have quit and headed for Wal-Mart. Sources said Wal-Mart is scouring the country for retail talent with attractive terms. Those who’ve got offers said that apart from the 30% flat hike over existing remuneration packages, the world’s largest retailer is also throwing its five-day-work schedule as a bait to lure talent. Many executives are finding it hard to resist as domestic retailers don’t offer such a condition. While Reliance Retail has a six-day work schedule, the Pantaloon group has six-day work schedule twice a month. While the Reliance Retail spokesperson declined comment, the Wal-Mart spokesperson said as a matter of policy, it does not comment on speculations about its recruitment plans. Sources said the war for retail talent would only intensify as Wal-Mart progresses on its business plans in India. “Though the US retailer is not known to be a good employer, even then Indians would like to work with it, for sometime at least, just to get the exposure.” However, S Ramesh who is learnt to be joining Wal-Mart (some say he would be a supplier to Wal-Mart through his own company) was initially heading Wal-Mart’s sourcing office in Bangalore and played a role in increasing Wal-Mart’s sourcing from India which currently stands at around $650 million. Another top executive slated to join Wal-Mart is the former chief marketing officer of Yum! India Arvind Mediratta. He would join the retail major as senior VP of Wal-Mart’s cash and carry business in April. Mr Mediratta would be reporting to Raj Jain who has been designated as president & CEO of Wal-Mart India.

Courtesy: EconomicTimes
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