Head of Walmart India resigns

Some seven months after Wal-Mart Stores Inc. suspended some executives within its Bharti joint venture, the head of the Indian operations has resigned.

Wal-Mart confirmed Raj Jain, CEO of Bharti Walmart, is “no longer” with the company Jain spent six years at that post with had seven total years at the retailer.

Ramnik Narsey, senior vice president for Walmart International, will serve as interim leader for India. He joined Wal-Mart just last month, after serving as CEO and chairman for Woolworths India.

This management shakeup adds to pressures in this market, as it is one of four under investigations for possible violations of the Foreign Corrupt Practices Act.

Indian news sources report the Enforcement Directorate continues to probe an investment made by Walmart in Cedar Support Services Ltd, a subsidiary of Bharti Ventures, for alleged "illegal" investments and flouting strict government regulations.

Bharti Enterprises has rejected the allegations that it had violated any rule in this regard.

Officials with Wal-Mart have said the retailer is committed to full cooperation with government investigations and has invested time and resources of its own to step up compliance efforts throughout the world.