Wal-Mart Names Cheesewright as New International Chief

Wal-Mart Stores Inc. named David Cheesewright the new CEO of Walmart International. Mr. Cheesewright succeeds Douglas McMillon, who is becoming the retailer's top executive.

Mr. Cheesewright, 51 years old, is currently chief executive of Wal-Mart's Europe, Middle East and Africa region, and Canada. Since taking the role in September 2011, he has overseen integration of Wal-Mart's acquisition of Massmart, the company's business in sub-Saharan Africa, as well as growth in the U.K. and Canada.

During his 25 years in international retail and manufacturing, he has also worked as CEO of Walmart Canada and CEO of U.K. supermarket chain Asda, among other positions.

He will start in the new job Feb. 1, the same date Mr. McMillon is promoted. Mr. Cheesewright's successor will be named at a later date, the company said.

The international division is the company's second-largest business after the U.S. operations and generates nearly 30% of the company's revenue. It includes more than 6,300 stores in 26 countries outside the U.S.

In the third quarter, Walmart International's increased its net sales to $33.1 billion.

Last month, Mr. McMillon, 47, a longtime company insider, was named Wal-Mart's next chief executive, succeeding Michael Duke, who is retiring as CEO but will remain on the board.

Mr. McMillon, who has run Wal-Mart's international business since 2009, inherits a company that is struggling with sluggish sales in the U.S. and abroad, a federal investigation into bribery allegations at its foreign operations and worker protests over pay.

The stock is up 17% so far this year.

Source: WSJ

Wal-Mart Names Cheesewright as New International Chief

Wal-Mart Names Cheesewright as New International Chief

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