Labor & Employment

New York City -- Wal-Mart Stores announced Monday that the president of its China unit is stepping down. A company spokesman said the resignation was unrelated to a Chinese government food safety case against several Wal-Mart stores.

Ed Chan, CEO of Wal-Mart China, left for personal reasons, the company said. Scott Price, president of Walmart Asia, will fill the position in the interim.

MOORESVILLE, N.C. — Lowe's Monday announced that it would close several stores and discontinue a number of planned new store projects as the company looks to bounce back from a second quarter of declining earnings and flat same-store sales.

The company closed 10 locations on Oct. 16 and said it would close another 10 within the month, following an inventory sell-through.

Bentonville, Ark. -- Walmart and the Walmart Foundation on Friday named Sylvia Mathews Burwell as president of the Walmart Foundation.

Burwell will join Walmart in January 2012 to lead the company's charitable giving efforts and Walmart's Global Women's Economic Empowerment Initiative. Burwell will also guide the company's social, environmental and economic opportunity efforts in Africa, the company said.

Sylvia Mathews Burwell was named president of the Walmart Foundation Friday morning and will join the organization in January 2012. She currently serves as president global development for the Bill & Melinda Gates Foundation and will replace Margaret McKenna who served as president of the Walmart Foundation since 2007 and announced her retirement earlier this year.

Columbus, Ohio -- Victoria's Secret Direct said Thursday that former Giorgio Armani Corp. CEO Bridget Ryan-Berman has been named CEO of the Internet and catalogue division of Victoria's Secret and a subsidiary of Limited Brands.

Ryan-Berman replaces Pia Ferrario, who will remain as CEO through the holiday season and then transition into an advisory role with the company.

Ferrario joined Limited Brands in 1989 and was named CEO of Victoria's Secret Direct in 2007.

BOSTON — Global private equity firm Advent International has announced that Tom Ryan, former chairman and CEO of CVS Caremark, has joined the firm’s Operating Partner Program. In this role, Ryan will advise and work closely with Advent’s investment professionals to identify opportunities and generate post-investment value at retail and healthcare companies globally.

Minneapolis -- Target Corp. said Thursday that the president of Target.com, Steve Eastman, has departed the company to pursue other opportunities.

The retailer said the decision is unrelated to the performance of its online business. However, the crash of its website last month during the launch of its exclusive Missoni collection led to much criticism.

Eastman is the second major executive to leave Target this month.

Boston -- Global private equity firm Advent International announced that Thomas Ryan, former chairman and CEO of CVS Caremark Corp., has joined the firm’s Operating Partner Program. He will advise and work closely with Advent’s investment professionals to identify attractive opportunities and generate post-investment value at retail and healthcare companies globally.

Ryan, who joined CVS Caremark in 1974 as a pharmacist, was appointed chief executive in 1994.