Ex-Woolworths chief promoted to CEO at Walmart U.S.
The former leader of Woolworths Limited (ASX: WOW) supermarkets in Australia and New Zealand has been promoted to CEO of the highest grossing region of the world's largest retailer.
Wal-Mart Stores, Inc (NASDAQ: WMT) announced today that Greg Foran has been promoted to president and CEO of Walmart U.S., succeeding Bill Simon who has been in the role since June 2010 and will be transitioning out of the company.
Walmart U.S.'s incoming CEO Greg Foran.
A release said Foran would assume responsibilities on August 9 and report to Walmart CEO Doug McMillon.
"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," McMillon said.
"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.
McMillon applauded Bill Simon's contribution to the company.
"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," he said.
"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."
Foran has been in the retail game for 35 years now, having worked earlier in his career as general manager of Big W, Woolworth’s industry leading discount store business and as general manager of Dick Smith Electronics.
Foran joined Walmart in October, 2011 and became president and CEO of Walmart China in March, 2012. A release highlighted that 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 then promoted to president and CEO of Walmart Asia earlier this year.
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