Walmart has announced the promotion of Walmart Asia CEO Greg Foran to president and CEO of Walmart US from 9 August.
Foran, a New Zealander, will take the reigns from Bill Simon, who took on the role in 2010 and will spend the next six months in a consulting role with Foran to ensure a seamless transition.
The shake up comes as the US chain of the global retailer posted its weakest sales growth in five years in the first quarter of 2014, according to Reuters.
“Being asked to lead the Walmart US business is a privilege that I don’t take lightly,” said Foran in a company statement. “The needs of our customers are changing dramatically and we have an enormous opportunity to serve them in new and different ways.”
Outgoing CEO Simon said he was looking forward to helping the company’s transition over the next few months. “It’s been an honour 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.”
Foran was recently promoted from chief executive Walmart China to chief executive of Walmart Asia, and will now report directly to president and CEO of Walmart, Doug McMillon. Prior to joining Walmart in 2011, Foran worked for leading Australian retailer Woolworths and brings with him over 35 years of experience in retail.
“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.”
