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Walmart chief named to RILA board
Sarasota, Fla. -- The Retail Industry Leaders Association said Tuesday that Bill Simon, president and CEO of Walmart Stores, along with Steven Preston, president and CEO of OakLeaf Waste management, have joined the RILA board of directors.
Simon replaces Walmart vice chairman and president and CEO of global e-commerce and global sourcing Eduardo Castro-Wright on the board.
The RILA board meets twice a year to discuss the issues facing retailers and to offer insight into the opportunities and challenges confronting the industry. -
South Africa’s Massmart approves Wal-Mart bid
New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.
Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.
The deal will have to be approved by South Africa's anti-monopoly regulators.