Reliance Retail Ventures Ltd. has appointed an external CEO after completion of an internal restructuring, which makes the company a direct subsidiary of Reliance Industries Ltd. ahead of a planned listing.
Jeyandran Venugopal, Flipkart's former chief product and technology officer, has been named as President & CEO of Reliance Retail, Livemint reported on Wednesday. He will work closely with Executive Director Isha Ambani as well as the leadership team led by RIL Chairman Mukesh Ambani and Reliance Retail Director Manoj Modi.
Venugopal brings with him 25 years of experience across retail, e-commerce, technology and business transformation.
- At Flipkart, Venugopal led large, cross-functional teams across product, design, engineering, data science and infrastructure.
- Before Flipkart, Venugopal was CPTO at Myntra, and has had previous stints at Yahoo! and Amazon Web Services in the technology space.
At Reliance Retail, he will be responsible for strengthening the portfolio of offerings, accelerating omnichannel expansion and driving transformation across the value chain, Livemint reported citing people familiar with the development.
Reliance Retail restructuring
The news of the appointment comes a day after Reliance Retail transferred its consumer business (FMCG brands) to a new entity called 'New Reliance Consumer Products Ltd. on a going-concern basis.
- A “going-concern” basis is an accounting assumption that a business will continue to operate in the foreseeable future—at least for the next 12 months—without the need to liquidate or cease operations.
The news of the appointment comes a day after Reliance Retail transferred its consumer business (FMCG brands) to a new entity called 'New Reliance Consumer Products Ltd. on a going-concern basis.
- A “going-concern” basis is an accounting assumption that a business will continue to operate in the foreseeable future—at least for the next 12 months—without the need to liquidate or cease operations.
New RCPL is now a direct subsidiary of RIL, which will hold an 83.56% stake in the company, according to a regulatory filing on Monday (1 December 2025).
According to RIL's latest quarterly results, Reliance Consumer Products Ltd. had a gross revenue of ₹9,850 crore in the first half of Fiscal 2026. Reliance Retail Ventures Ltd. had reported a consolidated turnover of ₹3.30 lakh crore in the fiscal ended 31 March 2025, with an EBITDA of ₹25,053 crore.
Reliance Retail IPO
Venugopal's appointment as Reliance Retail CEO follows several senior-level hires at the company that sells Campa Cola.
- In November, Reliance Retail recruited former Carrefour executive Guillaume de Colonges to lead its grocery business.
These move come even as Reliance Retail prepares for an IPO in the next couple of years at a valuation of about $100 billion, according to a 13 October report by Axis Securities Ltd.
Reliance Retail is India's largest organised retailer, with businesses that span consumer electronics to grocery and fashion and lifestyle. It operates 19,821 stores in India, as well as online retail channels, catering to roughly 40 crore customers annually. That compares with India''s total retail market valued at $1.15 trillion in 2025 and estimated at $1.8 trillion by 2030.