Rajeev Karwal, President and CEO of Reliance Retail’s consumer durables and IT vertical, has put in his papers. Karwal’s exit has taken many by surprise since he had joined the company just 10 months back. Karwal was the first high profile recruit of Reliance Retail.
Ajay Baijal, formerly Group Head, Channel Business (Wireless) at Reliance Infocomm, will replace Karwal. Baijal is currently President-Corporate Planning, Reliance Retail.
Karwal cited personal reasons for quitting Reliance Retail. When contacted, he said, “I have to move back to Delhi. It would have been unfair on my part to compromise the business interest by not spending appropriate amount of time with the consumer durables team.”
“It feels great to have been part of a grand vision and a stimulating environment. After the transition period, I would still be available to support Ajay and the team from outside as and when required,” Karwal further said.
He hasn’t decided on his next port of call. “My first priority at this moment is to ensure that the business runs smooth for Reliance and my team, which is very dear to me. Once that responsibility is complete, I will think of the next step,” he added.
Karwal began his career with Onida, where he spent around 10 years. His other stints included LG Electronics, where he was Head of Sales and Marketing for three years and was instrumental in strengthening the company’s presence in India. After LG he moved to Philips and spent three years there as Senior VP, Consumer Durables. He was also Managing Director and CEO of Electrolux Kelvinator Ltd for three years before taking up his assignment at Reliance Retail.