Wal-Mart Stores has appointed Neil Ashe as CEO of its global e-commerce business.

Ashe takes the role with immediate effect. He replaces Eduardo Castro-Wright, who said in September he would retire from the world's largest retailer this July.

Ashe joins from CBS, where he was president of the media giant's online content division CBS Interactive.

He became president of CBS Interactive when CBS acquired CNET Networks, where he was CEO. He also oversaw the development of CNET Networks' China division taking it from a small magazine and events company to a "highly profitable, fast-growing online business". Wal-Mart said that during Ashe's tenure as CEO of CNET Networks, the company's value increased from US$100m to $1.8bn. He led websites including CBS.com, CNET.com, CBSNews.com, and CBSSports.com, among others.

"With his strong personal leadership skills, financial background and experience in successfully working within a major corporation to lead its Internet division, Neil is the ideal leader to help us build this business," Wal-Mart president and CEO Mike Duke said yesterday (16 January).

"He has led companies through all stages of growth and maturity. He also has a deep understanding of the interactive space and how to attract and convert online customers. Perhaps most importantly, much of Neil's professional success has come through close collaboration and shared goals with his peers - a key attribute as we continue to integrate our online businesses across the company and with our physical stores."