Walmart’s Asia CEO steps down

News Journals

4 years ago

Walmart’s CEO for the Asia area – Dirk Van den Berghe has stop, an individual within the know of the matter informed ET.

Berghe can be more likely to step down from the board of Walmart-owned ecommerce market Flipkart.

This comes at a time when the Indian e-commerce big is firming up plans to go public as early as subsequent yr, at a valuation of $45-$50 billion. A Walmart spokesperson later confirmed that Berghe has put in his papers.

“After six years with Walmart, Dirk Van den Berghe, Govt Vice President, World Sourcing and Regional CEO – Asia, has determined to retire in March 2021 to spend extra time with household in Europe,” the spokesperson stated in an e mail.

Berghe joined Walmart in 2014 as CEO of the Canada area, and in addition served because the chief govt of Walmart China.

In his newest stint, he led Walmart’s Asia area – made up of India, China and Japan, other than specializing in world sourcing.

He was additionally a part of Walmart’s management crew that led the US agency’s $16 billion funding in Flipkart in 2018, which gave it a 77% stake within the homegrown etailer.

Berghe was given a seat on Flipkart’s board alongside Steuart Walton, the grandson of Walmart founder Sam Walton, amongst others.

Earlier this month, Flipkart cofounder Binny Bansal was named as a board member of PhonePe, after the digital funds firm was spun off from its guardian e-commerce agency.

PhonePe cofounders Sameer Nigam and Rahul Chari have been additionally named as board members. Bansal stays a member on the Flipkart’s board and can be a shareholder.

Flipkart’s board might see some adjustments as some folks would transfer to the PhonePe board after the spinoff, one other individual informed ET.

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