Walmart India has appointed a deputy CEO, elevating chief business officer, Sameer Aggarwal, to the new position effective January 1. Company sources say the move is part of the succession plan at the company.

Aggarwal, who was the chief business officer at Walmart India, had earlier worked with KFC Thailand and Sainsbury in Europe.

This is the first deputy CEO role at Walmart India and in fact, there is a buzz in the company that Aggarwal may take over from current CEO, Krish Iyer, within this year itself.

Walmart India did not comment on the succession plan but said in a statement, "Sameer Aggarwal has been appointed Deputy Chief Executive Officer, Walmart India effective 1st January 2020. He will continue reporting to Krish Iyer, President & CEO Walmart India and oversee Operations, Merchandizing, People, Marketing, Real Estate, Kirana Development Program, Digital, eCommerce and Strategy"

Walmart India owns and operates 28 B2B modern wholesale stores under the brand name"Best Price". Walmart India's revenues for FY 2018-19 stood at Rs 4,095 crore, an 11 percent jump over FY18. Its losses for FY19 however nearly doubled to Rs 172 crore, a 90 percent increase from the previous financial year.

First Published:Jan 2, 2020 7:29 PM IST