Mexican retailer Wal-Mart de Mexico (Walmex) has named Eduardo Solorzano as its new chief executive officer, replacing Eduardo Castro.
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.