Wal-Mart Stores, Inc. has hired Neil Ashe as the new president and CEO of its global e-commerce business. Ashe’s most recent position was president of CBS Interactive, in which capacity he headed all online properties and also drove development of new ways to distribute programming produced by the company and its subsidiaries. Ashe succeeds Eduardo Castro-Wright who is retiring in September. Castro-Wright is assisting in the transition. According to Mike Duke, president and CEO of Bentonville, Ark.-based Walmart, which has more than 10,000 retail units under 69 banners in 28 countries: “We are on track to create the next
Wal-Mart announced that Eduardo Castro-Wright, vice chairman and CEO of the company's global e-commerce and global sourcing businesses, will retire on July 1, 2012. Wal-Mart's goal is to name new leadership for these businesses by the end of January, after which Castro-Wright will assist in the transition.
Wal-Mart is transferring management of its e-commerce business to store-level leadership in developed countries and said that two online executives are leaving the company.
Wal-Mart announced today that it's reached an agreement to acquire a minority stake in the holding company of Yihaodian, a fast-growing e-commerce company in China. The transaction is expected to close within 60 days.
Bentonville, Ark. -- Wal-Mart Stores said Monday it is acquiring Mountain View, Calif.-based social media company Kosmix to help strengthen its social and mobile commerce. Wal-Mart, which has not disclosed the terms of the transaction, said it is interested in a social media technology platform Kosmix has developed that filters and organizes content in social networks to connect people with information that may be of interest to them. "Social networking and mobile applications are increasingly becoming a part of our customers' day-to-day lives globally, influencing how they think about shopping, both online and in retail stores," Walmart vice chairman
Walmart's strategy is evolving, and would have evolved regardless of what managers are in place. "Taking merchandise out of the Action Alley and providing clear sight lines has been a successful strategy," Spokesman David Tovar said in an e-mail, but added, "We are constantly listening to our customers and some have told us they liked seeing the rollbacks on merchandise in the aisles. .... We have given more autonomy to our store managers to make the decisions on what is right for their customers."