China
        

From Chinese Media

Wal-Mart China execs resign

Updated: 2011-05-20 17:33

By Cai Muyuan (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Luo Ruilan, senior vice president of Wal-Mart China, handed in his resignation shortly after the company's COO Luo Shicheng left earlier this month, National Business Daily reported Thursday.

Related readings:
Wal-Mart China execs resign Waltons take stake in 360buy.com
Wal-Mart China execs resign Carrefour, Wal-Mart fined 9.5m yuan for cheating Chinese consumers
Wal-Mart China execs resign Wal-Mart apologizes for price cheating
Wal-Mart China execs resign Wal-Mart to invset in China B2C website

The back-to-back resignations triggered some speculation, since they happened just days before Wal-Mart China is expected to officially acquire the China-based supermarket Trust-Mart on May 26.

Wal-Mart China PR Manager Zheng Zhong said the reasons behind the executives' resignations are personal. According to the report, he would not confirm they had anything to do with the acquisition of Trust-Mart.

In February 2007, Wal-Mart invested $264 million in acquiring a 35 percent stake in Taiwan-based Bounteous Company Ltd, the operator of Trust-Mart in the Chinese mainland. The acquisition planned for May 26 was delayed twice before, according the report.

Specials

Suzhou: Heaven on Earth

Time-tested adages sing praises of Suzhou, and Michael Paul Franklin finds it's not hard to understand why on a recent visit.

The sky's the limit

Chinese airline companies are increasingly recruiting pilots and flight attendants as the industry experiences rapid expansion.

Diving into history

China's richest cultural heritage may lie in the deep, like exhibits in a giant underwater museum.

Refreshingly beautiful
V-Day parade
Revolutionary marriage