AV Birla Retail appoints Thomas Varghese as CEO after Sumant Sinha quits

Mr. Sumant Sinha, CEO of Aditya Birla Retail, has decided to put in his papers after serving the company for six and half years with the group. In his place Aditya Birla Group has appointed Thomas Varghese as the new Chief Executive Officer. Presently, Thomas Varghese is the Executive President and Head of Grasim’s pulp division. Though reluctant to give any details about his next appointment, Sinha has disclosed that the sector he is likely to join is outside retail. An alumnus of IIT-Delhi and IIM-Calcutta, Sinha worked with Citi Corp and New York-based ING Barings prior to joining AV Birla Group. Spearheading various divisions, mostly finances, Sinha had been elevated to lead the retail arm of the group in 2006. Barely two months ago, Andrew Denby, CEO of group’s supermarket format “more” resigned. At the same time, Parakh Dave, CIO of the company left. These events naturally raise the questions what has led to such exodus. Insiders believe may be competitive situation despite slowdown in retail segment is having its toll on those responsible for the driving the growth.