US: Wal-Mart appoints Ostalé head of Latin America unit
Ostalé will be responsible for overseeing Wal-Mart’s operations in nine regions including Chile
US retail giant Wal-Mart has appointed Enrique Ostalé as president and CEO of its Latin America operations.
Ostalé, president and CEO of Wal-Mart Chile, succeeds the retiring Eduardo Solórzano from 1 March who will continue to serve as chairman of the board of directors of Walmart de Mexico. He will be responsible for overseeing Wal-Mart's operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua.
Gian Carlo Nucci, currently executive vice president and COO of Walmart de México, will replace Ostalé as president and CEO of Wal-Mart Chile.
"Wal-Mart's Latin American operations hold tremendous potential for our company and I look forward to building on our success in these markets," Ostalé said.
The appointment comes as reports emerge that Wal-Mart's Mexico unit was handing out bribes to local officials. According to Reuters, emails obtained by lawmakers contradict earlier statements by the retailer that executives weren't aware of bribes being made by the company.
- M&A Watch: Why Danone/Lifeway deal could be next
- Focus: The impact of Heinz's stevia ketchup
- Focus: Gen Mills turns to M&A to bolster US ops
- Shopper trends: Some confidence but promos popular
- Viewpoint: US health food in play - at a price
- Burton's "eyeing" United Biscuits merger
- Premier Foods revamp creates three divisions
- General Mills Q1 profits tumble
- Unilever to boost presence in Nigeria
- WhiteWave to buy dairy-free firm So Delicious