Walmart has announced that Enrique Ostalé, president and CEO of its Chilean operations, has been named executive vice president, president and CEO of Walmart Latin America.
Overseeing operations in nine countries
Mr Ostalé will take up his new post on 1 March, from a base in Mexico City. He will oversee Walmart's operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua. He commented: "Walmart's Latin American operations hold tremendous potential for our company and I look forward to building on our success in these markets."
Two other changes announced
Mr Ostalé's replacement at the helm of Chilean operations will be Gian Carlo Nucci, who is currently executive vice president and COO of Walmart de México. Eduardo Solórzano will retire as president and CEO of Walmart Latin America, but will retain his role as chairman of the board at Walmart de México.
Strong contributions from all three
Doug McMillon, president and CEO of Walmart International, said: "Eduardo, Enrique and Gian Carlo have each made contributions that have fostered the development of Walmart in Latin America. 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 México. Under his leadership, the first Walmart Bank was founded, Central America became part of Walmart de México 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.
"Gian Carlo's experience and record of accomplishments at Walmart de México ensure we will continue to innovate in service to our customers in Chile."
Want to know more about Latin America?
Take a look at our Latin America In Focus special analysis where we compare the recent performance of leading retailers across Latin America and focus on Cencosud’s growth strategy and the trading environment in Brazil