Wal-Mart names new U.S. CEO as Eduardo Castro-Wright shifts to online

Bentonville, Ark. Wal-Mart Stores said Tuesday that its vice chairman Eduardo Castro-Wright is leaving his post as president and CEO of Walmart U.S. He has been appointed as president and CEO of the company's global sourcing and global e-commerce unit. In a related move, the company said Walmart U.S. COO Bill Simon was promoted as head of Walmart U.S., reporting directly to CEO Mike Duke.

Simon will assume his new responsibilities immediately.  Castro-Wright, who will continue to serve as vice chairman, will be transitioning through August 1.

Wal-Mart said the move will allow Castro-Wright to relocate to California to be with his family during his wife's illness. The transition comes at a time when Walmart U.S. stores have faced slowing sales and traffic.

“As we continue to become a truly global company and address the business challenges of a rapidly changing world, it is clear that Global.com and Global Sourcing are critical to our future growth and success," Duke said. "We are fortunate to have someone as strategic and knowledgeable as Eduardo leading the teams to drive these initiatives forward at a faster pace.”