Wal-Mart Names Emerging Markets President

Bentonville, Ark. Wal-Mart Stores said Monday it has appointed Stephan Fanderl to lead the company's efforts to explore retail business opportunities in Russia and neighboring markets. Fanderl will serve as president of Wal-Mart emerging markets--East.

Fanderl joined Wal-Mart from the Rewe Group, a German retailer and travel company, where he most recently served as head of supermarkets and hypermarkets.