Reliance Retail's juggernaut continues to gather mometum. Its catch-list of top honchos is getting longer. The latest entrant may be Ninu Khanna, Bombay Dyeing's former MD. Sources say Mr Khanna is likely to head Reliance Retail's FMCG vertical. Earlier, the name of Pepsi India head Rajeev Bakshi had been doing rounds for the same post. Mr Khanna's FMCG background includes his stint as head of Dabur.
Mr Khanna could join Rajeev Karwal, Raghu Pillai and Bijou Kurien in spearheading Mukesh Ambani's mega retail roll-out, sources said. Reliance Retail has carved out its operations into 14 verticals, each under an individual head who will report to Manoj Modi.
Mr Modi is part of the retail subsidiary's three-member board. The other members are Mukesh Ambani and Deepak Jain, dean of the Kellogg School of Management. The board will be expanded as the rollout draws near, expected in the last quarter of '06, added sources.
Reliance Retail is setting new benchmarks in executive emoluments, with most of the vertical heads fitting into the Rs 2.5 -4 crore per annum bandwidth. This will factor in the proposed share allotment scheme. While half the package is in salary, it will be matched by equivalent shadow options. It has been reported that Reliance Retail will target Rs 90,000 crore sales in the next 4-5 years.
Mr Karwal, Mr Pillai and Mr Kurien are tipped to head the consumer durables, home solutions and lifestyle verticals respectively. The retail company, which will hit the market mostly in hypermarket-led format, is yet to name heads for the other 10 verticals, most of which will be based out of Mumbai. It's learnt that at least two - apparel and lifestyle - will be based in Bangalore.