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Wal-Mart Replaces U.S. CEO

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.

About Jaime Koch

Jaime Koch was the managing editor of Hardware Retailing Magazine. Jaime regularly traveled around the country and internationally to visit with retailers and share their stories. Jaime was honored by the American Society of Business Publishers for Editorial Excellence.

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