Rajeev Bakshi to step down as managing director of METRO Cash & Carry

NEW DELHI: Rajeev Bakshi will step down as the managing director of METRO Cash & Carry India by the end of January. “I have been working for 37 years and would like to take up a part-time (job) now,” Bakshi told ET. The local arm of Germany’s METRO AG is close to finalising his successor, he said.

Bakshi’s decision comes at a time when the parent company is planning to invest Rs 400 crore to have more wholesale outlets in India as part of a strategy to make the country a focus market. The company has announced plans to expand its network of distribution centres to about 50 by 2020.

The company could also be looking at entering into the business-to-business ecommerce space in India. It has started a pilot for online services in Bangalore for nonfood items for its member companies.

Bakshi has been MD since June 2010. Prior to this, he was chairman of PepsiCo India and was responsible for its business in India, Nepal, Bhutan, Bangladesh and Sri Lanka. He then moved on to the cola giant’s Asia headquarters in Hong Kong.