Retail News Breaks Archives
Walmart names Simon as new U.S. CEO
June 29th, 2010
BENTONVILLE, Ark. – Walmart has reshuffled its top executive ranks, naming vice chairman Eduardo Castro-Wright president and chief executive officer of global.com and global sourcing, while Bill Simon, who had been executive vice president and chief operating officer of Walmart U.S., has been promoted to president and CEO of Walmart U.S.
Both executives will report directly to Walmart president and CEO Mike Duke.
"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," said 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. Appointing him to this role demonstrates our commitment and the importance we assign to these areas and to building the next generation Walmart, while also allowing Eduardo to relocate to California to be with his family during his wife’s illness."
Duke lauded Castro-Wright’s contributions during the past five years, which include several major initiatives that have transformed or continue to transform Walmart’s operations, merchandising and marketing. "He is a visionary thinker who has strengthened our overall business and built a foundation that positions us well for the future," Duke added.
Simon has also made a big impact since joining the retailer as executive vice president of specialty divisions in March 2006. He oversaw the rollout of Walmart’s $4 generic drug program, which altered the landscape of retail pharmacy and changed the way generic drugs are marketed and sold in this country.
Since 2007, Simon has been COO of the Walmart U.S. division, spearheading Project Impact, a comprehensive effort to position Walmart for future domestic growth with improved merchandising and more shopper-friendly store environments.
"Bill is a strong leader who has made a positive difference from his first day at Walmart," Duke said. "He’s been responsible for successfully running more than 3,700 stores and leading 1.3 million associates in the U.S. 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. He is a talented strategist and an excellent people manager with strong execution skills."