In a major boost to capability development in the retail sector in the country, Coca-Cola India today has signed a Memorandum of Understanding (MoU) with the Indian School of Business (ISB), to establish the Coca-Cola ISB Retail Academy. The initiative is a first-of-its-kind specialized 'world class' academic programme to educate and train mid level professionals in the retail sector in India and takes forward the company's commitment to strengthen the dynamic sector following its very successful retail training program– Parivartan. The announcement was made in the presence of Ahmet C. Bozer, Group President, Eurasia and Africa group, The Coca-Cola Company, Atul Singh, President & CEO, Coca-Cola India and South West Asia, Ajit Rangnekar, Dean, ISB and Deepak Chandra, Deputy Dean, ISB. Ajit Rangnekar, Dean, ISB, said, "The retail sector in India is undergoing a rapid transformation, and the next phase of growth will require well trained professionals capable of amalgamating global best practices with the unique characteristics of the Indian consumer. The ISB will provide cutting edge pedagogy that will help them to drive the capability of the retail sector in India to 'world-class' competency levels and benchmarking against the best globally. We are delighted to associate with Coca-Cola India in developing this premier retail training programme in India." The Academy will impart a first-of-its-kind specialized academic programme to educate and train mid level professionals in retail management in India. A detailed diagnostic study to understand managerial capabilities and requirements at various levels in retailing organizations was undertaken by the ISB, which revealed certain shortcomings in the skill sets of retail sector professionals. The Academy has designed the programme so as to establish it as the "gold standard" in retail training in India, thereby ramping up capabilities in this sunrise industry. According to Ahmet C. Bozer, Group President, Eurasia and Africa group, The Coca-Cola Company, "This initiative lays the foundation for a well-rounded retail management training program thereby contributing to quality of future retail managers. This will be an important driving force for the sector and the Indian economy and we are proud to partner with a premier institute like ISB on this important initiative." Adding further, Atul Singh, President & CEO, Coca-Cola India and South West Asia, said, "The Retail Academy is a logical extension of our focus on building capability of retailers after the coca-Cola university retail training program – Parivartan. As partners in this project, we are contributing resources, financial and manpower, to establish the Academy." The first session of the programme will commence in July 2011 with an initial strength of 40 professionals. This will subsequently be scaled up in the next three to four years. The curriculum is a 25 day programme spread over a period of six months. The programme will be governed by a Governing Council comprising of eminent retail practitioners and academicians. The Academy will also conduct retail research and conduct online programmes.