In order to strengthen its leadership team and have diverse experience in the top management, American retail company, Walmart is planning to get expats on board for Flipkart. The company is planning to appoint C-suite roles from their global team and grow in the India market .
The US Foreign Corrupt Practices Act prohibits companies listed in the US from partaking in corrupt practices in foreign countries. Filling these positions with expats is part of Walmart's global push to ensure compliance with these regulations, said a media report.
Some senior executives from Walmart Gurgaon office are likely to join the Flipkart head office in Bengaluru.
It can be recalled that on May 9th American retail giant Walmart acquired 77% stake in Indian e-retailer Flipkart in a whopping $16 billion deal. Promising a robust growth for the Indian economy, Doug McMillon, CEO Walmart said, “Our investment will benefit India by providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers and women entrepreneurs.”
The American retailer feels this will create wonders for the Indian economy and it will maintain the equilibrium of local sourcing and create jobs.