New formats chief to leave Walmart

Less than a year after Walmart International named Lev Khasis to the role of president and CEO of new formats, the former Russian retail executive is heading back to his homeland to lead a financial institution.

Russia’s financial daily Kommersant reported that Khasis had accepted a position to serves as the deputy chairman of Sberbank, Russia’s largest bank. Khasis joined Walmart International in the fall of 2011 as SVP and chief leverage officer reporting to president and CEO Doug McMillon. Roughly one year later he was elevated to the role of president and CEO of new formats and tasked with developing concepts that could be deployed across international markets.

Prior to joining Walmart, Khasis had spent five years as CEO of X5, Russia’s largest food retailer and a company Walmart was one rumored to have an interest in acquiring.