Wal-Mart names new head of China operations
(AP)
Updated: 2006-10-23 11:07 BEIJING - Wal-Mart Stores Inc. has named an outsider as the new
president of its China operations, succeeding the executive who opened the
country's first Wal-Mart in 1996.
Ed Y. Chan, a former executive of Dairy Farm Group, succeeds Joe Hatfield,
the company said. Hatfield oversaw Wal-Mart's expansion in China to a current
total of 66 outlets and 36,000 employees.
"Ed brings extensive retail experience that will help us expand our growth
momentum in this important market," Wal-Mart vice chairman Michael Duke said in
the announcement.
The change of leadership comes amid reports that Wal-Mart might be preparing
for a growth spurt in China by acquiring a chain of Chinese-owned hypermarkets
in a US$1 billion (euro700 million) deal.
In August, Wal-Mart agreed to
cooperate with China's labor group in setting up unions at its Chinese
outlets.
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