January 21, 2008
John Menzer, vice chairman of Wal-Mart Stores Inc has announced he will retire from the company on March 1. Menzer spent 12 years with the company during a time marked by extraordinary growth and international expansion. His current responsibilities will be assumed by other leaders in the company.
“John has had a tremendously successful career at Wal-Mart and I have seen first-hand the difference he has made,” said Lee Scott, president and CEO of Wal-Mart Stores, Inc. “He is probably best known for transforming Wal-Mart International into a well-organized, fast-growing and profitable business. But he is also a talented corporate strategist and I personally have found him to be a valued business counselor.”
“I have really enjoyed my career at Wal-Mart and am fortunate to have been part of the team during such exciting times for our company,” Menzer said. “Our associates are just terrific and I learned something new from them every day.”
Menzer, 56, began his Wal-Mart career in 1995 as the company’s chief financial officer and was promoted to president and chief executive officer of Wal-Mart International in 1999. There he had full responsibility for the company’s operations in 15 countries.
During that time, he led numerous acquisitions for the company, including ASDA in the U. K. and other businesses in Mexico, Brazil, Central America and Japan. He served as board member and chairman of the executive committee for Wal-Mart de Mexico, and was a board member for Seiyu Ltd. (Japan). Under his leadership, international sales grew from $20 billion to $60 billion.
Read Full News Click Here
Source @ Fibre2fashion.com
