Advertisement

HindustanTimes Sat,26 May 2012
RssFeed

Corporate News

Walmart names Greg Foran as new China CEO
Reuters
Shanghai, February 07, 2012
First Published: 07:42 IST(7/2/2012)
Last Updated: 07:44 IST(7/2/2012)
Share more...
Comments         
Wal-Mart Stores Inc said on Tuesday it has named Walmart executive Greg Foran as the president and chief executive of Walmart China, capping a series of leadership changes at the China unit tainted by food scandals. Foran was chosen to replace Ed Chan, who stepped down in October 2011
after a pork mislabelling scandal that forced the company to shut a dozen stores in central China.

The Chinese city of Chongqing penalised Walmart after the firm was found to have mislabelled some pork as organic at a couple of its stores. Authorities said the pork scandal was the latest in a string of 21 violations dating back to 2006.

Walmart had also suffered a series of high level personnel losses last year, after its China chief financial officer and chief operating officer left in May leaving a leadership vacuum.

Foran is currently serving as Walmart's senior vice president for Walmart International and will start his new role on March 1, the company said in a statement.

Walmart troubles in China reflect the retail giant's struggles in a complex market where rapid expansion and a cumbersome takeover has marred profit and growth.


more»
Share more...
Comments         

comment Note: By posting your comments here you agree to the terms and conditions of www.hindustantimes.com
blog comments powered by Disqus


Advertisement
Advertisement

 
Advertisement
Copyright © 2012 HT Media Limited. All Rights Reserved. -