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Retail

Wal-Mart’s Mexican Arm Makes Loureiro New CEO

Walmex, Wal-Mart’s subsidiary for Mexico, has hired Guilherme Loureiro as its new CEO, who will begin in his new position on February 1 2016, Reuters reports.

In the past, Loureiro was the CEO of Wal-Mart Brazil, which is currently undergoing a downscaling operation. He succeeds Enrique Ostale as CEO for Walmex Mexico and Walmex Central America.

News of the appointment sparked a 1.78 per cent spike in Walmax’s share price.

Loureiro has a master’s and doctorate in business administration from Fundacao Getulio Vargas.

Prior to becoming Wal-Mart’s CEO for Brazil, he worked for Unilever in a variety of senior capacities in the UK, the US, Mexico, Brazil, and Chile. His final Unilever position with the company was senior vice president, corporate strategies, business development and president of Unilever Ventures.

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.

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