Wal-Mart International names new CEO

Bentonville, Ark. – Wal-Mart Stores named David Cheesewright, 51, as the new president and CEO of Walmart International. He succeeds Douglas McMillon, who is set to become the chain’s CEO, the retailer's top executive. Both assume their new roles on Feb. 1, 2014.



Cheesewright's successor will be named at a later date. His Wal-Mart career began in 1999 at Asda, the company's U.K. operation, where he held leadership positions in operations, merchandising, logistics, strategy and format development. He was the CEO for both Walmart Canada and Asda before being named CEO of Wal-Mart Canada. In 2011, he was named to his current position as president and CEO of Wal-Mart's EMEA and Canada region. Before his career with Walmart, Cheesewright held leadership positions in the U.K. with Mars Confectionery.



The international division is Wal-Mart’s second largest business after the U.S. operations and generates nearly 30% of the company's revenue. It includes more than 6,300 stores in 26 countries outside the U.S.



"I'm honored to be named to lead our international business at a time when our customers around the world need us more than ever," said Cheesewright. "A tremendous opportunity lies ahead for our company. Our success is dependent on our associates, and I'm committed to investing in them. Together, we will find innovative and sustainable ways to serve our customers and provide them with the quality, affordable products they expect from us. Through strong capital discipline, we will continue to invest in new stores and e-commerce growth, as well as productivity improvements that drive profitable growth and returns."