Walmart names Foran as new China CEO

Updated: 2012-02-07 13:10


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Wal-Mart Stores Inc said on Tuesday it has named Walmart executive Greg Foran as the president and chief executive of Walmart China, capping a series of leadership changes at the China unit tainted by food scandals, Reuters reported Tuesday.

Foran was chosen to replace Ed Chan, who stepped down last October after a pork mislabeling scandal that forced the company to shut a dozen stores in central China.

The Chinese city of Chongqing penalized Walmart after the firm was found to have mislabeled some pork as organic at a couple of its stores. Authorities said the pork scandal was the latest in a string of 21 violations dating back to 2006.

Walmart had also suffered a series of high level personnel losses last year, after its China chief financial officer and chief operating officer left in May leaving a leadership vacuum.

Foran is currently serving as Walmart's senior vice president for Walmart International and will start his new role on March 1, the company said in a statement.

Walmart troubles in China reflect the retail giant's struggles in a complex market where rapid expansion and a cumbersome takeover has marred profit and growth.