Aditya Birla Retail (ABRL) has announced the appointment of a new CEO, as part of a reshuffle by parent company AV Birla group. The move will see ABRL head Thomas Varghese trading places with Pranab Barua, CEO of sister firm Aditya Birla Nuvo (which handles textiles & apparel).
The group said the move is consistent with its periodic rotation of top talent, adding that it does so to “help create more value by leveraging their experience in other businesses and give multiple exposures to them which accelerate their leadership development”.
Barua had previously worked with Trinethra Retail, the South India-based supermarket chain that was acquired by ABRL in 2007. He was then transferred to Nuvo, which he turned into a profit-marking business by 2010. Varghese was made head of ABRL in 2008, and under him the group has grown into India’s third-largest grocer (behind Future Group and Reliance Retail).
NamNews - Monday 5th March 2012