Retail major Walmart India has elevated its Chief Business Officer Sameer Aggarwal to the post of Deputy CEO. Aggarwal's appointment comes into effect from Wednesday. He will report to Walmart India CEO Krish Iyer, the company said in a statement.
"Sameer Aggarwal has been appointed the Deputy Chief Executive Officer, Walmart India effective January 1, 2020. He will continue reporting to Krish Iyer, President and CEO Walmart India and oversee operations, merchandising, people, marketing, real estate, kirana development programme, digital, ecommerce, and strategy," a Walmart India spokesperson said.
Aggarwal has over two decades of experience across industries in general management, strategy, finance, and mergers and acquisitions in various countries.
He holds an MBA degree from the London Business School and is a fellow member of the Institute of Chartered Accountants of India. Aggarwal has also worked with McKinsey & Company UK and Australia as an associate for over seven years.
He joined Walmart India in April 2018 as EVP, Chief Strategy and Administrative Officer, and was elevated as the Chief Business Officer in December 2018.
Walmart India operates 28 modern wholesale stores under the brand name, 'Best Price'. Besides, the company has three fulfilment centres, one each in Mumbai, Lucknow, and Hyderabad.
Walmart India is a wholly-owned subsidiary of the US-based retailing giant Walmart Inc and came to India in 2007.
Ninjacart, the Bengaluru-headquartered B2B agritech startup, has received a big boost, with global retail giant Walmart and India’s leading ecommerce marketplace Flipkart announcing an undisclosed joint investment in the firm.
The latest development comes after the agritech startup received a $100 million fund infusion from Tiger Global in April 2019.
A press release issued by Flipkart and Walmart said, “Partnering with Ninjacart will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s Best Price B2B cash-and-carry stores and Flipkart’s online grocery business Supermart.”
Ninjacart's other investors include Accel, Steadview Capital, Qualcomm Ventures, and Nandan Nilekani.
(Disclaimer: Additional background information has been added to this PTI copy for context)
(Edited by Suman Singh)