Jeff Davis

Bentonville, Ark. -- Wal-Mart Stores, announced Monday that the company has completed its investment for a 51% stake in South African-based Massmart Holdings Limited. Doug McMillon, president and CEO of Walmart International, said, “With the closing of our investment in Massmart, we are very excited about our entry into South Africa as well as the broader African continent. As we do in all of our other markets, we will work to serve underserved customers, to help people save money to live better. Just as important, we will grow in this part of the world, and as we do, we

Wal-Mart Stores announced Wednesday that it has promoted Jeff Davis to the position of senior VP and treasurer, effective Dec. 1. In his new role, Davis will assume responsibility for treasury operations, capital markets, investor relations and risk management. Davis succeeds Charles Holley, who has been named to the position of executive VP and CFO, also effective Dec. 1.Davis, currently senior VP finance and strategy for Walmart U.S., joined Walmart in 2006 as VP finance for the Walmart U.S. health and wellness merchandise unit.