Business Intelligence on Retailing, Franchising, and Consumerism in China

Wal-Mart China CFO Changed

Anne Myong, former Wal-Mart China senior vice president and chief administrative officer, has been appointed new chief financial officer of Wal-Mart China.

Prior to this, Myong worked as Wal-Mart China's chief administrative officer for 15 months.

According to information from Wal-Mart China, Myong will continue to be responsible for administration, strategy, and merger and acquisition sectors. At the same time, Mario Jose, former chief financial officer of Wal-Mart China, will take a senior financial management position in the Latin American region. The Latin American region reportedly has the largest and the most developed markets among Wal-Mart's international businesses.

Greg Foran, president and chief executive officer for Wal-Mart China, said that Myong's previous working experience in Agilent Technologies and Wal-Mart China makes her qualified for the new role. It will also ensure the consistency and a smooth handover of related work.

Wal-Mart plans to take more efforts to develop the Chinese market in 2013. The retailer announced that it plans to add at least 100 new stores and Sam's Club outlets in China in the next three years. Meanwhile, it will invest to build more logistics distribution centers.

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