Scott Price, current president and chief executive officer of Wal-Mart Asia, will be transferred to Wal-Mart's global headquarters in Bentonville, Arkansas, to be executive vice president and senior management executive, leading international strategy and development, real estate, merger and acquisition, and integration and procurement resource sharing.
Greg Foran, current president and chief executive officer of Wal-Mart China, will be promoted as president and chief executive officer of Wal-Mart Asia, locating in Wal-Mart's Asian regional headquarters in Hong Kong. Sean Clarke, current chief operating officer of Wal-Mart China, will be promoted as president and chief executive officer of Wal-Mart China. All appointments will be effective on June 1, 2014.
David Cheesewright, Wal-Mart's president and chief executive officer for international business, said that the executive promotions in China and Asia allow the company to explore internal talents and fully play their unique advantages to benefit the entire company. It not only shows Wal-Mart's internal talent advantages, but also displays their ability to train global talents to meet their business demands worldwide.
According to Cheesewright, over the past five years, Wal-Mart gained huge successes in Japan with the daily low-price strategy under the leadership of Price. Meanwhile, he help the business upgrade in China and improved the operating conditions in India. As the chairman of National Center for APEC, Price also plays a leading position in the development of the industry.
In addition, Cheesewright said that the management team led by Foran and Clarke made a strong development plan and laid a solid foundation for Wal-Mart China. In his new role, Foran will continue to provide guidance to the company's business development in China, and will give supports and guidance to other regions in Asia.
At present, Wal-Mart has over 870 stores in Asia and it has over 150,000 employees serving customers in China, India, and Japan. The retailer also provides e-commerce services in China and Japan.