Walmart announces management changes in Asia
1 min read 25 Apr 2014, 02:17 PM ISTGreg Foran will handle Asia operations, taking over from Scott Price who will be moving to a senior management role
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New Delhi: American supermarket chain Wal-Mart Stores Inc. on Friday announced top management changes in the company’s Asia operations with the appointment of Greg Foran as president and chief executive officer (CEO) of Walmart Asia, replacing Scott Price who is moving to a senior management role in the company’s international strategy team.
Foran is currently president and chief executive of Walmart China. Sean Clarke, Walmart China’s current chief operating officer will be taking over his role as the CEO. The changes are effective 1 June.
In his previous role as president and chief executive of Asia, Scott made several visits to India and was instrumental in revamping the retailer’s India business, including the company’s recent decision to split with its local partner Bharti Retail Ltd. Over the past five years, Scott helped “...reset China business for greater success and revamped our India operations," said David Cheesewright, president and chief executive at Walmart International in a statement released by the company.
In October 2013, Bharti Enterprises Ltd and Wal-Mart Stores Inc. called off their Indian joint venture Bharti Walmart Pvt. Ltd, bringing to an end a five-year-old partnership. The company that ran wholesale (or cash-and-carry) stores called Best Price Modern Wholesale across India had been dogged by allegations of breaking Indian investment rules and mismanagement.
At the time of the split, Walmart Asia CEO Scott Price said in a statement: “Given the circumstances, our decision to operate independently will be beneficial to both parties. Through Wal-Mart’s investment in India, including our cash-and-carry business, supply chain infrastructure, direct farm programme and supplier development, we want to serve India and its people..."
Earlier this month, the US retailer announced it would open 50 wholesale stores in four to five years and establish an e-commerce platform in India. The format is “poised to grow in India..." Price had said in a statement.
Retail veteran Foran joined Walmart in October 2011, and was named president and CEO of Walmart China in 2012. “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," Cheesewright said.
