Wal-Mart Appoints Two New CEOs

Wal-Mart Stores Inc. appoints Vice Chairman Eduardo Castro-Wright to President and CEO of Global.com and Global Sourcing, and names Bill Simon as President and CEO of Walmart U.S. Both executives will report directly to Walmart president and CEO Mike Duke. Simon will assume his new responsibilities immediately. Castro-Wright will be transitioning through Aug. 1, 2010.

Commenting on his appointment, Wright Castro says: "I am excited to take on this new role to help drive the next generation of value creation for Walmart. I am committed to building the leading global e-commerce and multi-channel business and to truly leveraging our global sourcing to deliver value for our customer."

"As we continue to become a truly global company and address the business challenges of a rapidly changing world, it is clear that Global.com and Global Sourcing are critical to our future growth and success," says Duke. "We are fortunate to have someone as strategic and knowledgeable as Eduardo leading the teams to drive these initiatives forward at a faster pace."

Now in charge of Walmart U.S, Simon's goal is to partner closely with suppliers and build on the successes of Walmart's strategy over the last several years. "Together we will bring a sense of urgency in the areas that matter most for the continued growth of our business - increasing customer traffic, ensuring our product assortment is even more relevant, and never ever giving an inch on price leadership. We know our customers are counting on us now more than ever in these challenging economic times and we're committed to delivering for them," he says.

Duke adds: "Bill is a strong leader who has made a positive difference from his first day at Walmart. He's been responsible for successfully running more than 3,700 stores and leading 1.3 million associates in the United States. Bill transformed the customer experience at Walmart through faster service, a friendlier shopping environment and cleaner stores. He also helped develop and launch our game-changing $4 prescription drug program and has continued to drive innovation and improvement throughout Walmart U.S."

Castro-Wright will be relocating to the West Coast and will work from the company's Global.com office in California.

Simon, most recently chief operating officer, joined Walmart U.S. in March 2006 from Brinker International, where he was senior vice president of global business development and was responsible for the growth of the company's restaurant portfolio outside the United States.