BENTONVILLE, AK - Wal-Mart continued its recent spree of executive promotions this week by naming retail veteran Greg Foran to be the new President and CEO of Wal-Mart U.S.

“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,” said Wal-Mart President and CEO Doug 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.”

McMillon also had kind words for the departing CEO, Bill Simon, who is stepping down after 8 years with Wal-Mart.

“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,” said 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.”

According to a press release, Simon said that he was grateful for the opportunity he had been given by the retailer and was ready to move on and turn over control of Wal-Mart's U.S. operations to the next generation of executive leadership. 

“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," he said. "I look forward to helping the company as much as I can over the next six months.”

Foran spoke excitedly about his new position and the responsibilities he would soon assume as one of the top executives of the world's largest warehouse retailer.

“Being asked to lead the Walmart U.S. business is a privilege that I don’t take lightly,” said Foran. “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.”

Foran was first hired at Wal-Mart in 2011. He served as the President and CEO of Wal-Mart China from March 2012 until August 9th when he assumes his new position in the company.

According to a press release, before working at Wal-Mart, Foran worked a number of years for Woolworths as Managing Director of Supermarkets, Liquor, and Petrol. He also spent time as the General Manager for Big W and Dick Smith Electronics.

Congratulations on the promotion Greg!

Wal-Mart