Wal-Mart’s Latin American chief to also serve as CEO of Mexican unit

Mexico City - Wal-Mart de Mexico said that that Enrique Ostale, Walmex chairman and Latin America CEO for Wal-Mart Stores, will also take over as CEO of the Mexican company, effective January 1.



"Mexico and Central America is a priority market for Walmart," David Cheesewright, president and CEO of Walmart International, said. "Enrique has excellent global experience within the retail industry and will drive growth opportunities throughout the region, both in stores and through our growing e-commerce business."



Ostale will replace Scot Rank, who in October announced he was stepping down as CEO after five years.



The leadership change comes on the heels of a rough year for Walmart in Mexico, a country that supplies around 6% of the Bentonville, Ark., company’s annual sales. Ostalé joined Walmart in 2009 following the company’s acquisition of Chilean retail chain D&S, which is now Walmart Chile.



“The dual role of CEO for both Walmex and Walmart Latin America will give Enrique the unique ability to leverage our expertise and capability across nine markets, taking advantage of the growth opportunities that the whole region has to offer,” Cheesewright said.