BENTONVILLE, Ark. -- (Business Wire)
Today, Walmart (NYSE: WMT) announced that Greg Foran, 53, has been
promoted to President and CEO of Walmart U.S. Foran succeeds Bill Simon
who has been in the role since June 2010 and will be transitioning out
of the company.
Walmart Names Greg Foran President and CEO of Walmart U.S. (Photo: Business Wire)
Foran will assume his responsibilities on August 9 and will report
directly to Walmart President and CEO, Doug McMillon. Simon will be
available on a consulting basis for the next six months to ensure a
seamless transition.
“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,” said McMillon. “His passion for fresh food, experience in
general merchandise and commitment to e-commerce will help us serve our
customers even more effectively for years to come.”
“During Bill’s eight years of service to Walmart, his passion for our
mission, dedication to our associates and our customers, and innovative
thinking pushed us forward,” said McMillon. “From the very beginning,
his vision led us to lower the cost of health care through our $4
prescription offering. And, most recently, he put us on a path to future
growth with small formats and efforts that integrate digital and
physical retail.”
A 35-year retail veteran, Foran joined the company in October 2011 and
became President and CEO of Walmart China in March 2012. While leading
the business in China, the team made significant progress with its
assortment, pricing, store operations and compliance as Foran led
strategic investments in the supply chain and improved the store
portfolio. He was promoted to President and CEO of Walmart Asia earlier
this year.
Prior to Walmart, Foran held a number of roles with Woolworths, the
leading retailer in Australia and New Zealand. He served as the managing
director of supermarkets, liquor and petrol with responsibility for more
than $40 billion in sales at that time. Under Foran’s leadership, the
business grew sales and market share in a strong competitive market.
Earlier in his career, Foran served as general manager of Big W,
Woolworth’s industry leading discount store business and as general
manager of Dick Smith Electronics.
“I’ve worked closely with Greg for the past few years and I’ve seen
firsthand his passion for retail. I’m confident that Greg’s strong
leadership skills and alignment with our culture will serve our
customers and associates well,” McMillon said. “I’m excited about what
he will bring to this important part of our business.”
“Being asked to lead the Walmart U.S. business is a privilege that I
don’t take lightly,” said Foran. “I am excited to get started. The needs
of our customers are changing dramatically and we have an enormous
opportunity to serve them in new and different ways. We must be fierce
advocates for our customers, work meticulously to exceed their
expectations and earn their trust every day.”
During his tenure as President and CEO of Walmart U.S., Simon led a
turnaround that reinvigorated the company’s focus on everyday low costs,
everyday low prices and an increased product assortment. He also created
more career opportunities for associates, launched a U.S. manufacturing
revitalization and committed the company to hire more U.S. veterans.
“Whether we’re helping associates earn more for their families or
providing customers affordable prices so they can put food on the dinner
table, Walmart is a company that is, truly, changing people’s lives,”
said Simon. “It’s been an honor to work for Walmart over the past eight
years, and this felt like the right time to move on and focus on my next
opportunity. I look forward to helping the company as much as I can over
the next six months.”
The company will announce Foran’s successor as President and CEO of
Walmart Asia at a later date.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save
money and live better – anytime and anywhere -- in retail stores,
online, and through their mobile devices. Each week, more than 245
million customers and members visit our almost 11,000 stores under 71
banners in 27 countries and ecommerce websites in 10 countries. With
fiscal year 2014 sales of over $473 billion, Walmart employs more than 2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
Online merchandise sales are available at http://www.walmart.com
and http://www.samsclub.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140724005617/en/
Contacts:
Wal-Mart Stores, Inc.
Media Relations:
Brooke Buchanan,
1-800-331-0085
or
Investor Relations:
Carol
Schumacher, 479-277-1498 or 479-644-7732
Source: Wal-Mart Stores, Inc.
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