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Walmart Asia CEO Scott Price to Also Serve as Interim CEO of Walmart China

2011-10-17 09:55
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100,000 associates working together for future prosperity

HONG KONG, Oct. 17, 2011 /PRNewswire-Asia/ -- Walmart announced today that effective immediately, Scott Price, president and CEO of Walmart Asia, will also serve as interim leader for Walmart China, replacing Ed Chan, president and CEO of Walmart China, who is leaving the company for personal reasons. The Company appreciates Chan's close to five years of service. In addition, Clara Wong, Senior Vice President, People of Walmart China has resigned. Price will continue to serve both as the CEO of Walmart Asia and also as the CEO of Walmart China until a new CEO is named for Walmart's China operations. 

Price said, "We recently celebrated our 15th anniversary in China, and there is a lot to celebrate about our business here.  China is a very important market for Walmart and China's 12th five-year plan will provide strong opportunities to the retail industry. We have built a successful business in 353 stores with our team of close to 100,000 associates."

Price added, "Walmart has made valuable contributions to the economy, industry and to the community. Our Direct Farm program for example has touched the lives of over 800,000 farmers. Since our entry into China our associates have contributed over 200,000 hours to several local charities and causes. I am confident that the China management team will continue to lead Walmart's expansion and will continue to save Chinese customers money so that they can live better."

Walmart entered the Chinese market and opened its first Supercenter and Sam's Club in Shenzhen in 1996. Currently, Walmart operates a number of formats and banners in China including Supercenters, Sam's Clubs, and Neighborhood Markets. As of October 1, 2011, Walmart had 353 units in 130 cities, and had created about 100,000 job opportunities across China. The Company has been recognized as a "Best Employer" and as the "Best Retail place to work".

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at 9,700 retail units under 69 different banners in 28 countries. With fiscal year 2011 sales of $419 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://walmartstores.com/default.aspx.

Source: Walmart
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