Wal-Mart replaces executives in China

AP News
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Posted: May 29, 2011 5:52 PM
Wal-Mart replaces executives in China

Wal-Mart Stores Inc. said it named replacements for two of its top executives in China who resigned earlier this month.

The world's largest retailer appointed Mario-Jose Medina as the head of its financial operations in China. Medina previously worked as the chief financial officer of Wal-Mart Chile, Wal-Mart said in a statement on Friday. He was hired in 2007 to be the chief financial officer of Wal-Mart Puerto Rico.

The company also said that Del Sloneker, a former senior vice president, will become chief operating officer in China.

The shake-up comes after Wal-Mart's previous chief financial officer in China, Roland Lawrence, and its chief operating officer, Rob Cissell, resigned in mid-May, according to a published report on the website of The Wall Street Journal on Sunday.

Since entering China in 1996, the company has grown to over 300 stores in over 120 cities, with more than 95,000 associates serving over 2 million customers and members across China, Wal-Mart said.