Madeira Named To Head Following Anderson Move

Wal-Mart Stores Inc. has named Fernando Madeira as its the new president and CEO of in the wake of Joel Anderson’s move to Five Below, according to published reports. Madeira has been the retailer’s president and CEO of E-commerce in Latin America.

As president and CEO of Wal-Mart’s Latin American e-commerce operation, Madeira has been credited with building sales as he expanded assortment and improved fulfillment, according to the company.

Anderson will join Five Below as president in July, according to reports. Tom Vellios, co-founder and CEO of Five Below said in announcing the Anderson hire, “With Joel, we have a proven multi-channel retail leader with an exceptionally strong background across both stores and e-commerce, and the right leadership skills and merchandising vision to help fuel the growth of the Five Below brand.”