Global retailer Wal-Mart has appointed Krish Iyer as the president and chief executive officer (CEO) of its Indian unit.

Iyer, who owns strong experience of setting up new ventures, will take over from interim CEO Ramnik Naresy on 20th of January, 2014. The top position had fallen vacant following the unexpected departure of Raj Jain earlier this year.

In his new role, Iyer will directly report to Wal-Mart Asia President Scott Price. Iyer has been appointed the India business's chief at a time when the retailer is facing several challenges, such as bribery charges, declining growth, and FDI controversies in India.

Commenting on Iyer's new role, retail consultant Gibson G Vedamani said, "Iyer was always a very good decision maker and was adept in financial analysis owing to his chartered accountancy background. As a result he always worked towards profitability."

Analysts are of the view the view that the list of Iyer's priorities will include boosting the retailer's wholesale operations as well as finding a local retail partner to enter India's massive retail market.

Interim CEO Ramnik Naresy has been re-appointed as senior vice-president of Wal-Mart International.