Wal-Mart Stores Inc. announced Tuesday that one of its key executives, Eduardo Castro-Wright, will retire in 2012.
The world's biggest retailer said that Castro-Wright, 56, will retire from his role as vice chairman of Wal-Mart and CEO of its global ecommerce and global sourcing business on July 1. Wal-Mart aims to name a replacement by the end of January and have Castro-Wright assist in the transition.
Castro-Wright joined Wal-Mart in 2001 and led its business in Mexico before becoming president and CEO of its U.S. operations in 2005.
In June 2010, Wal-Mart appointed Bill Simon, who had been chief operating officer, to take over its U.S. operations, shifting Castro-Wright to lead the retailer's global ecommerce and sourcing business. Wal-Mart said at the time that the move allowed Castro-Wright to relocate to California to be with his family, including his wife who was recovering from a heart transplant. It also helped Wal-Mart increase its emphasis on building its international online business.
To read the rest of the story, please go to: Associated Press