Walmart US chief executive Bill Simon is departing the business, the world’s biggest retailer revealed today.
He will be succeeded by Greg Foran, who was president and chief executive of Walmart China for the last two years. Foran will take over the reins of its US division on August 9.
Simon has headed up Walmart US since 2010, but has struggled to deliver growth. In May, Walmart’s US division reported its fifth consecutive quarter of negative US like-for-likes.
Planet Retail US research director Sandy Skrovan said: “Simon did a lot of things well during his tenure at Walmart US, but we view it as having been difficult for him to have filled Duke’s [Mike Duke, the former Walmart chief executive] shoes to become of the largest global retailer without relevant international experience.”
Skrovan said that although replacement Foran is relatively new to Walmart, having only joined the company in 2011, he is well respected and brings with him a strong background in both grocery and general merchandise.
She added: “This move demonstrates that Walmart will not rest on its laurels and is definitely open to bringing in fresh blood and new thinking - something we think will serve Walmart US well as it struggles to turn around lacklustre performance and jump-start stagnant sales growth.”