Thursday, July 24, 2014

Change of leadership at Walmart U.S.

Posted By on Thu, Jul 24, 2014 at 9:06 AM

Bill Simon, 54, is out after four years as CEO of Walmart U.S. and Greg Foran, who's been CEO of Walmart Asia, is in.

Details of the company announcement here.

Simon's "retirement" agreement includes $4.5 million in installment payments and vesting of rights in more than 56,000 shares of stock.

Simon got a bonus last year despite missing sales targets. Same-store sales at Walmart U.S. stores have fallen for five quarters.

CORRECTION: I had Simon's name wrong in original posting.

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