MEXICO: New CEO sees Walmex expansion
The new chief executive of Wal-Mart de Mexico (Walmex) has said the chain plans to embark on aggressive, disciplined expansion to grow its market share and expand into new markets in Mexico.
Eduardo Solorzano, who took over as CEO in February, said the priority was to "continue profitable growth", by expanding the chain, streamlining operations and making sure individual stores match the needs of local consumers, reported Reuters.
"We are continuing our expansion plan," he was quoted as saying. "There is nothing to indicate we'll change our manner of investing in Mexico ... It's a very disciplined system of expansion."
Walmex, majority owned by US retail titan Wal-Mart, has nearly 700 stores and restaurants in Mexico.
Companies: Wal-Mart Stores
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