M&S Reliance starts filling top key mgt positions

NEW DELHI: Gearing up for roll-out of its chain of stores across the country, retail company Marks and Spencer Reliance India Ltd has started filling in top key management positions, while it is still scouting for a marketing head.

"We have already filled the positions of Chief Financial Officer, heads of human resources, buying and retail. We are looking out for a local person to head marketing," Marks and Spencer Reliance India Chief Executive Officer Mark Ashman told PTI.

The JV, in which the UK's retail company M&S has 51 per cent and the rest is with Reliance Retail, has roped in Jatin Luthra as the CFO.

"Also we have two expats from M&S Adam Colton and Spencer Sheen who will be heading buying and retail portfolios respectively," Ashman said.

Shalini Naggar will be the HR head of the JV that plans to pump in 29 million pounds (about Rs 230 crore) in the Indian market over the next five years and set up 50 stores.

He said the company is still looking out for a local person to head its marketing team.

"In the long run we are looking at local talent to head the respective teams," he added.

Ashman said in the initial year the company would have a strength of about 40 executives, which is likely to grow to about 55 next year.

Under its current franchise agreement with Planet Retail, M&S has 14 stores with about 250 people overall.

"When we reach the number to 50 stores in the next five years it is likely to grow many folds," he added