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NEW DELHI: Metro Cash & Carry MD and CEO Arvind Mediratta is unlikely to join Reliance Retail following the merger of the German retailer with the Mukesh Ambani-run company.
Mediratta is expected to continue until the merger, which is likely to be completed in around a week. While Mediratta was unavailable to comment, a Metro Cash & Carry India spokesperson said, “We do not comment on speculation. ”
The 55-year-old is expected to take a break and work out his plan for the future in the coming months, sources in the knowledge of the development told TOI. He has been with Metro for over seven years and was involved with the merger exercise which followed the German retailer’s move to reprioritise its global strategy at a time when the Indian operations needed cash to grow.
Mediratta earlier worked with Walmart, Yum! Brands and P&G. Reliance has agreed to buy Metro’s B2B business in India for Rs 2,850 crore.
Mediratta is expected to continue until the merger, which is likely to be completed in around a week. While Mediratta was unavailable to comment, a Metro Cash & Carry India spokesperson said, “We do not comment on speculation. ”
The 55-year-old is expected to take a break and work out his plan for the future in the coming months, sources in the knowledge of the development told TOI. He has been with Metro for over seven years and was involved with the merger exercise which followed the German retailer’s move to reprioritise its global strategy at a time when the Indian operations needed cash to grow.
Mediratta earlier worked with Walmart, Yum! Brands and P&G. Reliance has agreed to buy Metro’s B2B business in India for Rs 2,850 crore.
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