Greg Foran The New Wal-Mart Head Of USMd Noman Siddique (Author) Published Date : Jul 24, 2014 12:58 IST
One of the world s largest retail store Wal-Mart has decided to turn their business on at the Asia region as the firm has replaced their US business head Bill Simon as the Asia business s head where Greg Foran has been looking after the Asia business.
And the share price of the store at the stock market also fell one percent on the early trading periods at the New York Stock Exchange.
Greg Foran the 53 year old will be taking his new role at Wal-Mart from August 9 while Simon will be transitioning the company according to the company information.
On the other hand Simon has been the head of their US business for the last four years since 2010 is going to take over his new role as the consultant of the giant retail store for the next six months.
While Foran who joined Wal-Mart back in 2011 and the young yet veteran 35 year old immediately made his mark and was promoted as the chief executive of Wal-Mart China within six months and followed by that he was later made the head of Asia business in two years which is a significant sign.
Foran will be joining the US business in a very critical time when the unemployment rate along with the high rates of tax and fuel surrounding where it will be a tough ask for Foran to attract their low income based customers.
Wal-Mart has been going through lean patches recently where their first quarter income was the weakest on their last five years and their yearly profit was also disappointing.
Greg Foran The New Wal-Mart Head Of US