News: Airtel absorbs ousted Bharti Walmart CFO

C-Suite

Airtel absorbs ousted Bharti Walmart CFO

Pankaj Madan, who was suspended as CFO of Bharti Walmart as part of an internal probe into possible violations of American bribery laws at Walmart's India unit, has joined its Indian partner's flagship Bharti Airtel, in a sign of simmering friction between the two partners, Economic Times reported.

Pankaj Madan, who was suspended as CFO of Bharti Walmart as part of an internal probe into possible violations of American bribery laws at Walmart's India unit, has joined its Indian partner's flagship Bharti Airtel, in a sign of simmering friction between the two partners, Economic Times reported.

A person with direct knowledge of the matter said Madan joined Airtel's global finance team headed by group CFO Shrikanth Balachander last week. A Bharti spokesperson in an e-mailed reply confirmed his appointment without elaborating on his role. Two other people familiar with the development said Madan is tipped to take up a senior position at Bharti Airtel's African unit. Experts say the development shows wholesale partners Walmart and Bharti diametrically opposite views on Madan.

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Topics: C-Suite, #Movements

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