Wal-Mart sees churn at top
New Delhi: Some amount of movement is being seen at the top at Wal-Mart even before the retailer's Indian operations have taken off. Randy Guttery, the operations head for the Indian cash & carry venture, and an old Wal-Mart hand, has quit due to rumoured differences with Wal-Mart's CEO designate for India, Raj Jain while key executive Lance Retig Retig, in-charge of Wal-Mart's entry strategy for India and also the chief admin person has returned to the US.

Guttery is said to be negotiating with German cash and carry major Metro, to head the India operation as Harsh Bahadur the former CEO of Metro has quit and is joining Reliance Retail's hypermarket vertical.
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Quattrocchi detained in Argentina; may be extradited to India
New Delhi: Italian businessman Ottavio Quattrocchi, in the eye of the Bofors scam for the last 14 years, has been detained in Argentina and the CBI will ask for his extradition to India.

The CBI said the Interpol has issued a Red Corner notice against Quattrocchi, had been detained and had been taken into preventive custody on February 6 at Iguazu international airport while in transit to Buenos Aires.

The statement said the CBI after confirming the veracity of Quattrocchi's identity and detention has requested the Ministry of External Afafirs for sending the extradition request through diplomatic channels to the Argentinian government.

Earlier the Argentine authorities had conveyed the news of his detention through diplomatic channels. He was detained in Misiones Province in Argentine.

This information was also given by Interpol, Buenos Aires to the CBI.
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