Who next in Reliance Retail?

Reliance Retail will have four main divisions--food, non-food, services and agri-business. A CEO will head each vertical. They will report to the central leadership team, which, at present comprises of Mukesh Ambani and Manoj Modi. According to sources, food and groceries is planned to be the largest division, contributing around 15-16 percent of the target turnover. Another 13-14 percent is expected from consumer durables.

Reliance Retail is picking the cream of the crop from across the industry, paying an estimated Rs 4 crore to each of its division heads. It’s been an extremely interesting game to watch……who will join the Reliance bandwagon next?

Here’s the chronology:

January 28, 2006

• Rajeev Karwal joins as CEO of the consumer durables division of Reliance Retail. According to sources, Karwal will be in charge of appliances, electronics, telecom, computer software & hardware and photography.

February 11, 2006

• Gunender Kapur, head of Unilever Nigeria, joins Reliance Retail as head of the food and grocery division.

March 1, 2006

• Raghu Pillai, CEO Home Solutions, Pantaloon Retail will be joining as chief executive of retail operations.

March 13, 2006

• Sriram Srinivasan will join as head of Reliance Retail fashion apparel retail business. Srinavasan was the founder of Indus-League Clothing, which owns the brands Indigo Nation and Scullers, now owned by Pantaloon Retail and therefore now a competitor.

March 17, 2006

• Bijou Kurien, chief operating officer (COO) of Titan Industries, has quit the company to join Reliance’s retail venture. A long-timer at Titan, Kurien will be heading the lifestyle division of the retail venture.
  

Rumors doing the rounds:

• Rajeev Bakshi, chairman of Pepsico India, may be joining the company.

• Ninu Khanna, former MD of Bombay Dyeing, may be joining as head of the FMCG division.