Walmart India on Wednesday said it has elevated Sameer Aggarwal as its CEO and the appointment will be effective from April 1.

Aggarwal succeeds Krish Iyer who is set to retire on March 31. Iyer, would get into advisory role from full-time management of Walmart India after leading the retail major for eight years.

Aggarwal, who was elevated as Deputy CEO earlier in January this year, has now been promoted to Chief Executive Officer of Best Price, Walmart India, effective from April 1, Walmart said in a statement.

Aggarwal will directly report to Walmart Executive Vice President and Regional CEO of Asia and Global Sourcing Dirk Van den Berghe.

'Sam (Aggarwal) has done a fantastic job in the past two years. He led the charge to make our proposition more customer centric, developing digital offerings to prepare for our omni channel services in the future,' Berghe said adding 'I look forward to seeing him make a greater impact for our Best Price members and associates in India. said

For a smooth transition, Iyer will work with Aggarwal till June 30, it added further.

'Following this, he will remain in an advisor role to ensure Walmart continues to benefit from his wealth of experience,' said Walmart.

'It is bittersweet to leave Walmart, but I am confident that Sam will be able to take the business to the next level,' Iyer said.

Aggarwal, who has more than two decades of international business experience, holds an MBA degree from the London Business School and is a fellow member of the Institute of Chartered Accountants of India.

Aggarwal, joined Walmart India in April 2018 as EVP, chief strategy and administrative officer and was elevated as Chief Business Officer in December 2018.

'I look forward to continuing to work with the outstanding team we have here to ensure Best Price, Walmart India remains a great place to work and a great partner to our members and suppliers,' Aggarwal said.

Walmart India operates 28 modern wholesale stores under the brand name Best Price. Besides, the company has two Fulfilment Centres.

Walmart India is a wholly-owned subsidiary of US-based retailing giant Walmart Inc and came to India in 2007.