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Last updated on Thursday, July 24, 2014, 8:37 am

Greg Foran

Walmart U.S. CEO Bill Simon Stepping Down; Foran Named Successor

Bill Simon, president and CEO of Walmart U.S. since June 2010, is leaving the company. Wal-Mart Stores Inc. made the announcement Thursday in a news release, and said Greg Foran has been named his successor, effective Aug. 9. Foran, 53, has been with the company for nearly three years and was named president and CEO of Walmart China in March 2012. He was promoted to President and CEO of Walmart Asia earlier this year. Simon, 54, will be available as a consultant for six months “to ensure a seamless transition”, according to the release. The company will announce Foran’s successor as President and CEO of Walmart Asia at a later date. Walmart U.S. encompasses 1.3 million associates and about 4,000 stores. The unit serves more than 140 million customers each week and had revenues... [ MORE ]

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