Tuesday December 10th, 2013 - 10:26AM
Today, Wal-Mart Stores, Inc. announced that it is promoting David Cheesewright to president and CEO of Walmart International. He currently is president and CEO of Wal-Mart’s Europe, Middle East and Africa, and Canada region.
Cheesewright will assume his new role on February 1 and report to Doug McMillon, who was named company CEO last month, succeeding Mike Duke.
Cheesewright was the chief operating officer for both Walmart Canada and Wal-Mart’s United Kingdom-based Asda division before taking on the job of Walmart Canada CEO. In 2011, Walmart promoted him to his present position.
McMillon said that Cheesewright would take over the international 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,” McMillon said in comments on the promotion. “He brings a wealth of experience and a proven track record of innovation and governance. With his deep knowledge of the company, our customers and our purpose, he is the ideal person to steer our next chapter of continued, long-term growth. David’s passion for sustainability will drive change that will help improve our world.”
Walmart pointed out that the international division generates almost 30% of the company’s revenue, serving more than 109 million customers every week in more than 6,200 retail units under 64 banners in 26 countries outside the United States. In the third quarter of 2013, Wal-Mart International grew net sales to $33.1 billion as, on a constant currency basis, net sales increased 4.1% to $34.4 billion.