Walmex names new chief executive officer

Wal-Mart de Mexico, Mexico's biggest retailer, said that Enrique Ostale, Walmex Chairman and Latin America chief executive officer for parent company Wal-Mart Stores Inc, will also take over as CEO of the Mexican company.

The change comes after Walmex said in October that Scot Rank was stepping down as CEO after five years, when it also reported an 8 percent fall in third-quarter profit.

Ostale will take over as CEO on January 1, and will continue to lead Wal-Mart's operations in Latin America.


Source: Reuters