Hans Udeshi joins Max Hypermarket as President

Retail industry veteran, Hans Udeshi has quit as CEO-general merchandise of Future

Value Retail to join Max Hypermarket as President, Non-Food. In February 2006 and after spending five years as Chief of Big Bazaar chain, Udeshi had quit Pantaloon Retail to join Max Hypermarket as Senior Vice-President, buying and merchandising. He again joined Future Value Retail in May 2007 as Chief Executive Officer-general merchandise.

In his career, spanning around 17 years, from 1984-2001, he worked with companies like Gokaldas Images, BLR Knits, Littlewoods International, Pearl Global, DCM, among others. Senior executive churn at the Future Group, as per industry experts is due to the group’s failure to bring down its debt levels despite implementing several measures like selling majority stake in Pantaloon to Aditya Birla Nuvo. The current market situation has also led to many employees either looking for better opportunities or sticking to the companies till some positive turnaround takes place.

Over the last one year, Future Group refurbished 75 per cent of its stores and closed 67 stores and exited several slow-moving categories under Big Bazaar and Food Bazaar chains.