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Monday
May302011

Walmart Replaces Top China Executives

Justin Sullivan/Getty Images(BEIJING) -- Walmart has replaced two of its top executives in China after their resignations earlier this month.  

Walmart on Friday said that Mario-Jose Medina, former chief financial officer of Walmart Puerto Rico and Walmart Chile, will replace Roland Lawrence as chief financial officer in China, while Del Sloneker, a former senior vice president, will succeed Rob Cissel as chief operating officer in that country.

"Both executives bring with them years of experience and a solid understanding of the retail market in China," Ed Chan, chief executive of Walmart's China operations, said of the new appointments.

Wal-Mart, based in Bentonville, Ark., is planning for an expansion to take place in smaller cities within China, according to a Wall Street Journal report.  The retail giant is hoping to see growth in emerging markets in countries like China, Brazil and Mexico due to falling U.S. sales, WSJ reports.

The former CFO Roland Lawrence and COO Rob Cissell resigned abruptly in Mid-May for personal reasons and to pursue other opportunities, according to a statement from Walmart.

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