Mexican retailer Wal-Mart de Mexico (Walmex) has named Eduardo Solorzano as its new chief executive officer, replacing Eduardo Castro.
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Castro is leaving Walmex to become chief operating officer of the US store division of retail giant Wal-Mart, the majority owner of Walmex, reported Reuters. Solorzano’s previous position was as director of operations for Walmex.
Walmex also reported a 2.4% increase in December same-store sales in real terms, despite fierce competition. The company said total December sales were 18.59bn pesos (US$1.65bn), an increase of 8.7%. Walmex said its same-store sales for 2004 were 3.8% higher than 2003.
