Harsh Bahadur, Managing Director, Metro Cash & Carry India, according to a company statement, has resigned citing personal reasons. Bahadur, before taking up any new assignment, in March, 2007, will continue to serve the board till end February, 2007.
Although, Bahadur is said to be evaluating various options, speculation was rife a few days ago in the business media about he having been roped in to head the cash & carry format of retail business operations of Reliance Retail.
Bahadur, a retail industry veteran, had moved from RPG group’s retail business, six years ago, to set up Metro Cash & Carry’s retail business operations in India. Bahadur, a pioneer in the field, is credited with bringing about a revolution in the cash & carry business in India.
Metro C&C is the Indian arm of German retail major Metro AG, which adopted the cash and carry retail route to enter India. Wal-Mart has decided to follow the same entry strategy in India.
METRO C&C, it may be recalled, had started its operations in India from Bangalore in October 2003. Presently, Metro has two distribution Centres in Bangalore and one in Hyderabad. Bangalore centres, set up with an estimated investment of Rs. 200 crore, stock more than 18,000 food and non-food items and occupy more than 220,000 Square Feet of retail space, 40,000 Square Feet of which has been temperature controlled.