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BENTONVILLE, Ark. — A change at the top of Walmart U.S. is under way. Thursday morning Walmart announced that Greg Foran has been promoted to president and chief executive officer of its domestic operations. Foran succeeds Bill Simon, who will be leaving the company.
A change at the top of Walmart U.S. is under way. Thursday morning Walmart announced that Greg Foran has been promoted to president and chief executive officer of its domestic operations. Foran succeeds Bill Simon, who will be leaving the company.
The 53-year-old Foran will assume his new duties on August 9 and report to Walmart president and CEO Doug McMillon. "Greg is one of the most talented retailers I’ve ever met. His depth of knowledge and global experience will bring a fresh perspective to our business," says McMillon. "His passion for fresh food, experience in general merchandise and commitment to e-commerce will help us serve our customers even more effectively for years to come."
A 35-year retail veteran, Foran joined Walmart in October 2011 and became president and CEO of its operations in China in March 2012. While he was leading that business, the team there made significant progress with its assortment, pricing, store operations and compliance as Foran spearheaded strategic investments in the supply chain and improved the store portfolio. He was promoted to president and CEO of Walmart Asia earlier this year.
Prior to moving to Walmart, Foran held a number of roles at Woolworths, the leading retailer in Australia and New Zealand. He served as the managing director of supermarkets, liquor and gasoline, with responsibility for more than $40 billion in sales at that time. Under Foran’s leadership, the business grew sales and market share in a strong competitive market. Earlier in his career, Foran served as general manager of Big W, Woolworths’ industry-leading discount store business and as general manager of Dick Smith Electronics.
"I’ve worked closely with Greg for the past few years, and I’ve seen firsthand his passion for retail. I’m confident that Greg’s strong leadership skills and alignment with our culture will serve our customers and associates well," McMillon notes. "I’m excited about what he will bring to this important part of our business."
For his part, Foran says, "Being asked to lead the Walmart U.S. business is a privilege that I don’t take lightly. I am excited to get started. The needs of our customers are changing dramatically, and we have an enormous opportunity to serve them in new and different ways. We must be fierce advocates for our customers, work meticulously to exceed their expectations and earn their trust every day."
Simon, who has headed Walmart U.S. since June 2010, will be available on a consulting basis for the next six months to ensure a seamless transition.
"During Bill’s eight years of service to Walmart, his passion for our mission, dedication to our associates and our customers, and innovative thinking pushed us forward," notes McMillon. "From the very beginning, his vision led us to lower the cost of health care through our $4 prescription offering. And, most recently, he put us on a path to future growth with small formats and efforts that integrate digital and physical retail.
"During his tenure as president and CEO of Walmart U.S., Simon led a turnaround that reinvigorated the company’s focus on efficiency, everyday-low prices and an increased product assortment. He also created more career opportunities for associates, launched a U.S. manufacturing revitalization and committed the company to hire more U.S. military veterans.
"Whether we’re helping associates earn more for their families or providing customers affordable prices so they can put food on the dinner table, Walmart is a company that is truly changing people’s lives," Simon comments. "It’s been an honor to work for Walmart over the past eight years, and this felt like the right time to move on and focus on my next opportunity. I look forward to helping the company as much as I can over the next six months."
