HindustanTimes Tue,30 Sep 2014

Walmart replaces chief of US division

AFP  New York, July 24, 2014
First Published: 18:50 IST(24/7/2014) | Last Updated: 19:15 IST(24/7/2014)

US retail giant Walmart Stores Thursday announced it is replacing the head of its Walmart US division, which has had declining same-store sales in recent quarters.

Greg Foran, 53, currently head of Walmart Asia, will lead the Walmart US division starting August 9, reporting to chief executive Doug McMillon, the company announced.

Foran will replace Bill Simon, who has held the post since June 2010 and "will be transitioning out of the company," Wal-Mart said.

"Greg is one of the most talented retailers I've ever met. His depth of knowledge and global experience will bring a fresh perspective to our business," McMillon said.

Foran joined Wal-Mart in 2011 after previously working at Woolworths, a leading supermarket group in Australia and New Zealand.

The US division, which accounts for about 60% of Wal-Mart's overall revenues, had declining comparable store sales of 0.1% in the most recent quarter, after a 0.4% decline in the previous quarter.

more from Business

RBI keeps key interest rate unchanged

Reserve Bank of India (RBI) governor Raghuram Rajan on Tuesday kept the central bank’s key lending rate unchanged. Rajan retained the repo rate - the rate at which banks borrow from RBI - at 8%.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved