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Bentonville, Ark. -- A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover.
Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1.
Since May, Wal-Mart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.