Mergers & Acquisitions

SAN BRUNO, Calif. — Wal-Mart Stores has named a replacement for Eduardo Castro-Wright, who announced his pending retirement in September. The company announced that Neil Ashe is the new president and CEO of the company's global e-commerce business, effective Jan. 16. Castro-Wright will assist in the transition.

Ashe is replacing Eduardo Castro-Wright who announced his pending retirement in September and will assist in the transition.

Bentonville, Ark. -- Wal-Mart Stores announced that Neil Ashe, 44, is the new president and CEO of the company's global e-commerce business, effective Jan. 16.

Ashe was most recently president of CBS Interactive, where he led all online properties and also drove development of new ways to distribute programming produced by the media giant and its subsidiaries.

Ashe is replacing Eduardo Castro-Wright, who announced his retirement in September and will assist in the transition.

NORTHFIELD, Ill. — Realigning U.S. sales, consolidating U.S. management centers and streamlining corporate and business unit organizations are on the to-do list of Kraft Foods as it prepares to spin off its business in two independent public companies before the end of the year.

Minneapolis -- Best Buy announced that Shari Ballard and Mike Vitelli, who had both been president of Best Buy's domestic business, will take on separate jobs, effective immediately. The retailer, which posted disappointing holiday results, said it was undertaking the changes to accelerate its strategy by aligning the company's senior operating talent with its highest priorities.

Jacksonville, Fla. -- Winn-Dixie said Friday that its CEO Peter Lynch will step down, as the supermarket chain merges with Bi-Lo LLC. Current Bi-Lo chairman Randall Onstead will replace Lynch as CEO.

Lynch said in a letter to employees that he will remain for another 60 to 120 days to assist in the transition.

Bi-Lo purchased Winn-Dixie for $560 million in December.
 

ST. LOUIS — The boards of directors for Ralcorp Holdings' Ralcorp and Post divisions were unveiled Friday by the company.

As previously reported, Ralcorp said its Post cereal business will be spun off to become its own entity.

New York City -- Retail companies are experiencing a period of sustained turnover at the top, according to the a new report by Russell Reynolds Associates, which examined turnover and recruitment trends between January 2006 and April 2011 at 81 retail chains headquartered in the United States with annual revenues of $1 billion or more.

The study,” A Perfect Storm: CEO Challenges in Retail,” found that 59% of the retail companies studied experienced a change in CEO leadership during this five-year period. 
In other findings:

By Stephen Wyss, BDO USA, LLP