BENTONVILLE, Arkansas (October 19, 2006) -- Michael Duke, Vice Chairman of Wal-Mart Stores, Inc., announced today that Ed Y. Chan will succeed Joe Hatfield as head of the company’s China retail business.
Chan, who will be President and CEO of Wal-Mart China, comes to the company from the Dairy Farm Group where he was most recently Regional Director of North Asia. He will join Wal-Mart next month and take over leadership of the China retail operations in February.
“Ed brings extensive retail experience that will help us expand our growth momentum in this important market,” said Duke. “We are pleased he will be leading our China business.
“We appreciate all that Joe has accomplished during the 12 years he has led our retail business in China. He has created a strong foundation for Wal-Mart China and will remain engaged in a senior advisory position,” added Duke. Hatfield is a 32-year company veteran and opened Wal-Mart China’s first Supercenter in August 1996. Wal-Mart China now has 66 retail units in 34 cities employing 36,000 associates.
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and SAM’S CLUB locations in the United States. The Company has operations in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, and the United Kingdom. The company’s securities are listed on the New York Stock Exchange and NYSE Arca, formerly the Pacific Stock Exchange, under the symbol WMT. Online merchandise sales are available at www.walmart.com.