Wal-Mart names Greg Foran, currently president, CEO of Walmart China, as president, CEO of Walmart Asia, replacing Scott Price, who will move to executive position at company's Arkansas headquarters

Cindy Allen

HONG KONG , April 25, 2014 (press release) – Scott Price to head up company's international strategy team, real estate, mergers and acquisitions, integration and purchase leverage;

Greg Foran to lead Walmart's Asia region;

Sean Clarke named president and CEO of Walmart China

Wal-Mart Stores, Inc. (WMT) announced a series of promotions in the company's Asia region today. Scott Price, currently president and CEO of Walmart Asia, will move to a senior management role as executive vice president, international strategy and development, real estate, mergers and acquisitions, integration and purchase leverage, based at Walmart's world headquarters in Bentonville, Arkansas. Greg Foran, currently president and CEO of Walmart China, has been named president and CEO, Walmart Asia, and will be based in the company's Asia regional office in Hong Kong. Sean Clarke, Walmart China's current chief operating officer, has been named president and CEO of Walmart China. The changes are effective June 1.

"These promotions allow us to tap into the extraordinary talent we have in our company, leverage their unique strengths to benefit the entire organization, and ensure continuity of leadership in China and the region," said David Cheesewright, president and CEO of Walmart International. "While these moves highlight the internal talent we have at Walmart, they also show how we are able to build global talent to meet the needs of the company wherever we operate."

Price joined Walmart in 2009 in his current role, and previously, he served as CEO of DHL Express Europe and as CEO, DHL Express Asia Pacific. Prior to joining DHL, Price spent a decade with the Coca-Cola Co. During that period, he assumed various roles which included country leader in Japan, and as director and country manager in China, which included Hong Kong, Macau and Mongolia.

"Over the past five years, Scott oversaw the success of our EDLP strategy in Japan, helped reset the China business for greater success and revamped our India operations. He also played a lead role for the industry as Chairman of the National Center for APEC (NCAPEC)," said Cheesewright.

A 30-year retail veteran, Foran joined Walmart in October 2011, and was named president and CEO of Walmart China in 2012. Prior to that, he grew his career in New Zealand and Australia from a part time job stocking shelves to head of Woolworth's Supermarket Division. Foran held several senior roles within Woolworth's including General Manager of Big W, the company's discount department store division, and Dick Smith, which specializes in consumer electronics. His experience includes operations, merchandising, marketing and replenishment.

"Greg, Sean and their team laid a solid foundation and built a strong plan for Walmart China," Cheesewright said. "In his new role, Greg will be able to continue to guide our China growth plan as well as provide support and direction for our other Asia businesses."

Clarke's career with Walmart spans almost 15 years and includes extensive experience around the world. He started his retail career with Asda, where he served as commercial finance Director. He also served as chief financial officer in Japan and Germany before moving to Canada where he served as chief Financial Officer. Clarke also led Real Estate and Strategy for Walmart Canada and was a member of the Board for Walmart Canada Bank. Over the past two years as COO of Walmart China, Clarke oversaw Operations, Merchandise, Logistics, Marketing, Information Systems and Asset Protection.

"Sean has been a key contributor to our improved performance in China. His experience and background uniquely prepare him for this role and will ensure continuity for our progress in China," Foran said.

Walmart's Asia region serves customers through more than 870 units and over 150,000 associates serving customers in China, India and Japan. The company also serves customers through e-commerce in China and Japan.

About Walmart

Wal-Mart Stores, Inc. (WMT) helps people around the world save money and live better -- anytime and anywhere -- in retail stores, online, and through their mobile devices. Each week, more than 245 million customers and members visit our 10,942 stores under 71 banners in 27 countries and e-commerce websites in 10 countries. With fiscal year 2014 sales of over $473 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.

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