Ex-Walmart execs join Indian retailer
Former Walmart China executives Rob Cissell and Shawn Gray have joined the retail subsidiary of Indian conglomerate Reliance Industries, according to the Economic Times of India. Cissell will serve Reliance CEO and Gray will serve as COO, according to the newspaper.
Other reports out of India suggest a panel of top officials is expected to meet this month and make a ruling on whether to allow foreign direct investment in the country’s retail sector. Such a move has been anticipated for a long time, but until it happens Walmart can’t move forward with its own growth plans for the country and is limited to a joint venture relationship to operate cash and carry stores with partner Bharti.