Wal-Mart.com CEO Joel Anderson to step down
REUTERS - Wal-Mart Stores Inc said Joel Anderson, chief executive of its United States website, Walmart.com, would step down, at a time the company plans to speed up investments in technology to boost sales at its fast-growing e-commerce business.
Fernando Madeira, CEO of Latin America eCommerce at Wal-Mart, will replace Anderson, according to a company memo seen by Reuters.
Madeira will now relocate to San Bruno, California from Brazil to assume additional responsibility for Wal-Mart's U.S. markets, the memo said.
Anderson will take up a job at a different company, Wal-Mart spokesman Dan Toporek told Reuters in an email.
Wal-Mart appointed Gregory Penner vice chairman on Friday, showing that the world's largest retailer is looking at younger executives to revive its fortunes.
Penner is now in a position to succeed Chairman Rob Walton, his 69-year-old father-in-law.
Penner's appointment comes at a time when the company's U.S. same-store sales are falling and it is struggling to move past a bribery scandal at its Mexico unit that has cost it more than $500 million since 2012.
The company, in May, forecast a current-quarter profit that fell short of analysts' expectations, after quarterly sales grew at their slowest pace in nearly five years.
Wal-Mart is also facing increasing dissent from its employees who, backed by unions, are demanding higher wages, better benefits and more full-time jobs.
(Editing by Simon Jennings in Bangalore)
- Tweet this
- Share this
- Digg this
- UPDATE 1-Islamic State fighters kill 220 Iraqis from tribe that opposed them
- UPDATE 7-Apple's Cook: "I'm proud to be gay"
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- UPDATE 5-Bike-riding U.S. nurse defies Ebola quarantine, on collision course with governor
- Apple's Cook: "I'm proud to be gay"
Samsung Electronics Co Ltd on Thursday said it would revamp its smartphone line-up to take on competitors in the rapidly growing mid-to-low range segment, after third-quarter earnings set it on course for its worst year since 2011. Full Article
Alibaba plays trademark card to protect lead as China's $8 billion e-commerce spree nears Full Article
Nintendo to develop "quality of life" device to track sleep, fatigue - CEO. Full Article
With selfies and listicles, U.S. politicians go vote-hunting on social media. Full Article