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David Cheesewright Named President And CEO Of Walmart International

Stocks in this article: WMT

BENTONVILLE, Ark., Dec. 10, 2013 /PRNewswire/ -- Wal-Mart Stores, Inc. (NYSE: WMT) announced today that David Cheesewright, 51, will be promoted to president and CEO of Walmart International, the company's second largest operating segment.  Cheesewright, currently president and CEO of Walmart's Europe, Middle East and Africa (EMEA) and Canada region, will report to Doug McMillon, who was named on Nov. 25 to succeed Mike Duke as the company's president and CEO.  Both assume their new roles on Feb. 1, 2014. Cheesewright's successor will be named at a later date.

(Logo:  http://photos.prnewswire.com/prnh/20090914/WALMARTLOGO)

"David will lead the division at an exciting time," said McMillon.  "We have strengthened our business and gained market share in the majority of our international markets, and he had a key role in that success. He brings a wealth of experience and a proven track record of innovation and governance.  With his deep knowledge of the company, our customers, and our purpose, he is the ideal person to steer our next chapter of continued, long-term growth. David's passion for sustainability will drive change that will help improve our world."

"I'm honored to be named to lead our international business at a time when our customers around the world need us more than ever," said Cheesewright. "A tremendous opportunity lies ahead for our company.  Our success is dependent on our associates, and I'm committed to investing in them.  Together, we will find innovative and sustainable ways to serve our customers and provide them with the quality, affordable products they expect from us.  Through strong capital discipline, we will continue to invest in new stores and e-commerce growth, as well as productivity improvements that drive profitable growth and returns."

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