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Wal-Mart Stores Inc replaced its U.S. head Bill Simon with Asia chief Greg Foran.
According to Reuters, the moves comes as Wal-Mart seeks to restore the fortunes of its largest business after a year of sluggish sales.
A 35-year retail veteran who started out as a teenage part-timer stocking supermarket shelves, Foran is being moved to the United States just two months after becoming the head of Wal-Mart’s Asia business.
Wal-Mart says that Simon – who joined the retailer in 2006 and has headed its U.S. business since 2010 — would stay on as a consultant for six months and the parting was “amicable”.
Foran, 53, joins Wal-Mart’s U.S. business at a time the company is struggling to retain its traditional low-income customers. The U.S. business accounts for about 60 percent of the company’s total revenue.
For the full story from the Chicago Tribune, click here.
