Wal-Mart announced that Greg Foran, its senior vice president for global business, has been appointed new president and chief executive officer for China.
After obtaining his work permit, Foran will take his new post in China on March 1, 2012.
With more than 30 years of experience in the retail industry, Foran joined Wal-Mart in October 2011. Prior to that, he mainly worked in New Zealand and Australia. Starting as a tally clerk in Woolworths, Foran held various positions in the company. In addition, he has rich experience in many sectors, including operations, procurement, and marketing.
Scott Price, president and CEO for Wal-Mart Asia and interim president and CEO for Wal-Mart China, said that Foran has outstanding achievements in the retail industry. He is a qualified leader who can lead the company's business development in China.
Foran said that it is an honor to lead the Chinese business and serve the customers there. China is an important market for Wal-Mart and he is looking forward to working together with the 100,000 employees in China.
Wal-Mart entered the Chinese market in 1996 and the retailer currently has shopping plazas, Sam's Clubs, and community stores in the country. By February 1, 2012, Wal-Mart had opened 370 outlets in 140 Chinese cities, creating about 100,000 jobs nationwide.