Greg Foran, 53, has been promoted to President and CEO of Walmart US to succeed Bill Simon who has been in the role since June 2010.
“Greg is one of the most talented retailers I’ve ever met. His depth of knowledge and global experience will bring a fresh perspective to our business,” said Walmart President and CEO, Doug McMillon. “His passion for fresh food, experience in general merchandise and commitment to e-commerce will help us serve our customers even more effectively for years to come.”
Foran will assume his responsibilities on 9 August and will report directly to McMillon. The company said Simon will be available on a consulting basis for the next six months.
A 35-year retail veteran, Foran joined the company in October 2011 and became President and CEO of Walmart China in March 2012. While leading the business in China, the team made significant progress with its assortment, pricing, store operations and compliance as Foran led strategic investments in the supply chain and improved the store portfolio. He was promoted to President and CEO of Walmart Asia earlier this year.
Prior to Walmart, Foran held a number of roles with Woolworths, the leading retailer in Australia and New Zealand. He served as the managing director of supermarkets, liquor and petrol with responsibility for more than USD40 billion in sales at that time.
“Being asked to lead the Walmart US business is a privilege that I don’t take lightly,” said Foran. "The needs of our customers are changing dramatically and we have an enormous opportunity to serve them in new and different ways. We must be fierce advocates for our customers, work meticulously to exceed their expectations and earn their trust every day.”
During his tenure as President and CEO of Walmart US, Simon led a turnaround that reinvigorated the company’s focus on everyday low costs, everyday low prices and an increased product assortment. He also created more career opportunities for associates, launched a US manufacturing revitalization and committed the company to hire more US veterans.
The company said it will announce Foran’s successor as President and CEO of Walmart Asia at a later date.