Wal-Mart Names New Chief Executive Officers to its China Region
Wal-Mart Stores recently appointed a new chief executive officers to handle its China region a place where in the U.S. retailer giant is facing stiff competition from local rivals. According to Sean Clarke, Wal-Mart’s current chief operating officer in China is taking over the role of China CEO from June 1. Clarke has been working with Wal-Mart for more than 15 years with the last two of his years in his current role in China handling logistics to merchandise and marketing. Current China chief executive Greg Foran will be then named as Asia CEO.
China is part of Wal-Mart’s international ambition but can’t grab hold of the market as consumers values safe and authentic food rather than low prices which is Wal-Mart is known for. Wal-Mart has been operating in China for around 17 years now and this year, the company was getting over several problems such as the tainted meat scandal and workers going on strikes in several of its stores.
Now Wal-Mart is doing a new approach to capture the market, by closing several of its big stores that didn’t’ attract locals and started to focus more on pushing its own brand products and imports and ensuring quality and safety.