Fanderl to lead Wal-Mart venture into Russia

BENTONVILLE, Ark. Wal-Mart Stores is looking to explore retail opportunities in Russia and nearby markets. The company announced that has hired Dr. Stephan Fanderl to lead the company's expansion efforts in Russia and its neighboring markets as president of Wal-Mart Emerging Markets - East.

Dr. Fanderl comes to Wal-Mart from the Rewe Group, a prominent German retailer and travel company. In 2006 he was appointed a board member and head of hypermarkets and supermarkets for Rewe Germany with gross revenues of 13 billion euros.

"We are exceptionally pleased to have Stephan Fanderl join Wal-Mart Stores," said Mike Duke, vice chairman, Wal-Mart Stores. "He has outstanding managerial skills and has successfully developed Rewe's business in Germany and eight Eastern European countries."