Metro's CEO unlikely to join Reliance following merger
Metro Cash & Carry is merging with Reliance Retail and the deal is expected to be completed in approximately a week’s time. However, Metro Cash & Carry’s CEO and managing director Arvind Mediratta appears unlikely to join Reliance Retail.
Mediratta is expected to continue to work for Metro Cash & Carry until the merger with Reliance Retail goes through and will subsequently take a break from work to plan for the future, sources close to the development told TNN. However, Metro Cash & Carry India did state to the Times of India that it does not comment on speculation.
Reliance Retail has agreed to purchase Metro Cash & Carry’s India business-to-business operations for Rs 2,850 crore. The merger comes at a time when German business Metro Cash & Carry is reprioritising its global strategy and when its India arm requires financial resources to enable it to grow.
Mediratta has worked for Metro Cash & Carry India for more than seven years and worked on the merger with Reliance Retail. The executive has also worked for Walmart, P&G, and Yum! Brands.
Metro Cash & Carry India currently operates in over 20 Indian cities with over 30 large format stores, The Indian Express Reported. The business first entered the Indian market in 2003.
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