Consumer goods group Reckitt Benckiser has picked PepsiCo executive Laxman Narasimhan as its next chief executive, becoming the latest industry heavyweight to turn to a company outsider to tackle faltering growth.
The Americans jeans maker said on Monday it expects to raise as much as $587 million through an initial public offering, giving it a value of up to $6.17 billion as it returns to the market after three decades.
Flipkart’s CEO Kalyan Krishnamurthy has written to his employees to restate his confidence in the business and rebuke the predictions of the recent Morgan Stanley report on Walmart’s position on India.
Walmart has asserted that it remains committed to Flipkart and its India investments despite the changes to India’s FDI regulations and a recent Morgan Stanley report suggesting that it could leave Flipkart.
Walmart Inc's online retailer Flipkart has told the Indian government the company faces the risk of "significant customer disruption" if the implementation of new curbs for e-commerce is not delayed, sources said.
The United States government is concerned about India’s revised e-commerce regulations and has told officials in New Delhi the policy will hinder the Indian investment plans of Amazon.com and Walmart Inc.
A group representing online sellers in India will appeal against the Competition Commision of India’s (CCI’s) ruling in favour of Walmart-owned Flipkart, the group’s lawyer Chanakya Basa said in a release on Saturday.