Russian retail association adds Wal-Mart to its ranks

MOSCOW The Russian retail association has added Wal-Mart Stores as a member, according to reports.

Members of the association include Carrefour, Auchan, Metro AG, X5 Retail Group and Magnit.

In April, Wal-Mart 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 came 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.