New Delhi, Nov. 20 -- Reliance Retail has hired former Carrefour executive Guillaume de Cologne to oversee its grocery business, in a sign he could potentially succeed Damodaran Mall, the current chief executive of the company's grocery retail division.

The move comes as the retail arm of Reliance Industries Ltd (RIL) prepares for an initial public offering, likely in 2027 or 2028. The retail business is currently valued at around $100 billion, according to an October 13 report by Axis Securities.

Cologne, who formerly served as chief commercial officer at Carrefour, was hired earlier this year, according to people in the know.

Carrefour is a French retail group that operates a network of more than 14,000 multi-format stores across ove...