Ostalé Remains Chairman of the Board
Mexico City - Dec 19, 2014 - The Board of Director of Walmart de México y Centroamérica (BMV:Walmex) informs its shareholders, as well as the public in general, that Enrique Ostalé will assume the position of President and Chief Executive Officer of the company, in addition to fulfilling his role as Chairman of the Board. This designation is effective January 1, 2015.
Ostalé joined Wal-Mart Stores, Inc. in 2009 as part of Walmart’s acquisition of the Chilean retailer D&S, now Walmart Chile, where he held several positions in merchandising, operations and finance from 1989, and from 1997 to 2000 served as Chief Financial Officer (CFO). He served as President and CEO of Walmart Chile from 2006 until March 1, 2013, when he was appointed President and CEO for Latin America. In addition to leading Walmex, Ostalé will continue to oversee Walmart’s operations in Latin America.
“Mexico and Central America is a priority market for Walmart. 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,” said David Cheesewright, President and CEO of Walmart International and Walmart de Mexico y Centroamérica board member. “He is a strong leader, and his cross functional experience will ensure that we remain well positioned to serve the 2 billion customers that count on Walmex every year.”
“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.”
Enrique holds an undergraduate degree in economics and business administration from the Adolfo Ibáñez University and a Master Degree from the London School of Economics. Between 2002 and 2006, he was Dean of the Business School of the Adolfo Ibáñez University in Santiago de Chile.
Walmart de México y Centroamérica also announced that Scot Rank will be leaving his position on the Board of Directors. “We appreciate the leadership role that Scot played in the Walmex business for 14 years and wish him success in his new endeavors,” said Ostalé.