Walmart Names Greg Foran President and CEO of Walmart U.S.
July 24 2014 - 8:30AM
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/
Wal-Mart Stores, Inc.Media Relations:Brooke Buchanan,
1-800-331-0085orInvestor Relations:Carol Schumacher,
479-277-1498 or 479-644-7732
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