In the midst of a major bribery probe that originated in its Mexican operations, Wal-Mart has named a new chief for its Latin America division.
Wal-Mart Stores, Inc. today announced that Enrique Ostale, president and CEO of Walmart Chile, has been named executive vice president, president and CEO of Walmart Latin America, where he will oversee Walmart’s operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua.
The company has more than 373,000 employees and 3,832 retail units in those countries.
Based in Walmart’s Latin American regional office in Mexico City, Ostale will assume his new role on March 1st. Eduardo Solorzano will retire as president and CEO of Walmart Latin America and continue to serve as chairman of the board of directors at Walmart de Mexico.
Ostale, a Chilean, has a financial background in retail and merchandising, media, and has served as the dean of a business school.
Gian Carlo Nucci, currently executive vice president and COO of Walmart de Mexico, has been named to replace Ostale as president and CEO of Walmart Chile.
“Eduardo, Enrique and Gian Carlo have each made contributions that have fostered the development of Walmart in Latin America,” said Doug McMillon, president and CEO of Walmart International. “For 27 years, Eduardo has been a champion for our customers in Mexico and across Latin America, and we are pleased he’s staying on as chairman of Walmart de Mexico. Under his leadership, the first Walmart Bank was founded, Central America became part of Walmart de Mexico and the Every Day Low Prices strategy extended to Central and South America.”
“Likewise, Enrique’s leadership in Chile has been key to both the successful integration of D&S with Walmart following our 2009 acquisition, and also to Walmart Chile’s ongoing success,” McMillon added. “Gian Carlo’s experience and record of accomplishments at Walmart de Mexico ensure we will continue to innovate in service to our customers in Chile.”