Reuters - Wal-Mart Stores Inc has joined the Russian retail association, the lobby group said on Monday, the latest in a series of moves indicating the world's largest retailer's interest in expanding into Russia.
MOSCOW (Reuters) - Wal-Mart Stores Inc has joined the Russian retail association, the lobby group said on Monday, the latest in a series of moves indicating the world's largest retailer's interest in expanding into Russia.
Wal-Mart Stores Inc named the head of its international division, Doug McMillon, to replace Chief Executive Mike Duke, who will retire on Jan. 31 after five years at the helm of the world’s largest retailer.
McMillon, a 47-year-old Wal-Mart veteran, will take charge after the holiday shopping season at a time when the company is facing intense competition from dollar stores and other discounters, such as Target Corp.
FAYETTEVILLE, Ark. — Wal-Mart Stores Inc announced a new US$15-billion repurchase plan at its annual meeting on Friday and emphasized the advancement opportunities its workers have, even as a small but vocal group of workers complained that they cannot make enough money working for the world’s largest retailer.
Jerry Murray, the Wal-Mart Stores Inc executive who called the chain’s early February sales “a total disaster” in an email made public by Bloomberg, left the world’s largest retailer last week, Wal-Mart confirmed on Wednesday.
According to Reuters, Wal-Mart de Mexico S A B de C V CEO Scot Rank will step down from his role by the year-end, after serving five years in the position. The news came in on the same day as the announcement of third-quarter results.
NEW YORK: Wal-Mart says board Chairman Rob Walton will step down and be succeeded by Vice Chairman Greg Penner, who is Walton's son-in-law. The world's largest retailer says the change will take effect at the end of its annual meeting Friday. Walton, son of Wal-Mart founder Sam Walton, has been chairman since 1992. The company says the 70-year-old will continue to serve as a director. Penner, 45, joined Wal-Mart as a management trainee and held a number of positions including senior vice president of finance and strategy for Walmart.com and chief financial officer for the Japan unit.
SHANGHAI (Reuters) - Wal-Mart Stores Inc has taken full ownership of Chinese e-commerce firm Yihaodian.com, buying out the 49 percent stake that it did not already own to accelerate its push online, the U.S. retail giant said on Thursday.