Rob Cissell

Bentonville, Ark. -- A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover. Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1. Since May, Wal-Mart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.

Shanghai — Wal-Mart Stores Inc. announced it has appointed its current Canada finance chief Sean Clarke as COO over the company’s China operations, after former CFO Roland Lawrence and COO Rob Cissell left the company in May. According to a report by Bloomberg, Clarke will be joined by Steve Smith, named chief marketing officer in China. Smith was senior VP at Delhaize Group. Wal-Mart, which operates China’s biggest hypermarket chain after Sun Art Retail Group Ltd., is restacking its China leadership deck, as it has said it expects China to surpass the U.S. as the world’s largest grocery marketing