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Wal-Mart names new CEO of U.S. discount division

Posted: July 24, 2014 at 8:37 a.m.

NEW YORK — Wal-Mart Stores Inc. says U.S. discount-store chief Bill Simon is stepping down.

The world's largest retailer has named the head of its Asian business as his replacement.

The Bentonville-based retailer says that Greg Foran, 53, president and CEO of Wal-Mart Asia, will succeed Simon.

Simon helmed the Wal-Mart U.S. division since June 2010. The changes will take effect Aug. 9. The company said Simon will be available on a consulting basis for the next six months to ensure a seamless transition.

Foran will report directly to Doug McMillon, who took over as president and CEO of Wal-Mart Stores Inc. in February.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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