The world's biggest retailer announced Tuesday, Dec. 10, that it has promoted insider David Cheesewright to head Walmart (NYSE:WMT) International, its second-largest operating segment. Cheesewright, who has served has president and CEO of Walmart's Europe, Middle East and Africa (EMEA) and Canada region since 2011, will begin his new role Feb. 1, 2014.
Cheesewright, 51, will succeed and report to Doug McMillon, who was promoted in late November as president and CEO of the retailer to succeed Mike Duke.
"David will lead the division at an exciting time. We have strengthened our business and gained market share in the majority of our international markets, and he had a key role in that success. He brings a wealth of experience and a proven track record of innovation and governance," McMillon said in a company statement.
Prior to Cheesewright's current role, he had served as president and CEO of Walmart Canada in 2008, and as chief operating officer of Walmart Canada from 2004 to 2005. He joined the company in 1999 through its acquisition of Asda Stores Ltd. in the U.K., where he oversaw operations, merchandising, logistics, strategy and format development as chief operating officer.
Walmart's International division is the company's second-largest operating segment and brings in about 30 percent of the company's total revenues, with more than 6,200 retail units under 64 banners in 26 countries outside the U.S. As head of the division, Cheesewright led the integration of Massmart acquisition in South Africa and growth in the United Kingdom through the Netto stores acquisition.
Walmart noted that it plans to name a successor to Cheesewright at a later date.
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