Greg Foran, president and CEO of Wal-Mart US.

BENTONVILLE, Ark. — Greg Foran has been promoted to president and CEO of Wal-Mart US. Foran succeeds Bill Simon, who has been in the role since June 2010 and will transition out of the company.

Foran will assume his responsibilities on Aug. 9 and will report directly to Doug McMillon, president and CEO of Wal-Mart. Meanwhile, Simon will work on a consulting basis for the next six months.

“Greg is one of the most talented retailers I’ve ever met,” said McMillon, who was promoted to president and CEO in February. “His depth of knowledge and global experience will bring a fresh perspective to our business. His passion for fresh food, experience in general merchandise and commitment to e-commerce will help us serve our customers even more effectively for years to come.”

A 35-year retail veteran, Foran joined Wal-Mart in October 2011 and became president and CEO of Wal-Mart China in March 2012. He was promoted to president and CEO of Wal-Mart Asia earlier this year.

Prior to Wal-Mart, Foran held a number of roles with Woolworths, a retailer in Australia and New Zealand. He was the managing director of supermarkets, liquor and petrol with responsibility for more than $40 billion in sales at that time. Earlier in his career, Foran was general manager of Big W, Woolworth’s discount store business, and as general manager of Dick Smith Electronics.

“I’ve worked closely with Greg for the past few years, and I’ve seen firsthand his passion for retail,” McMillon said. “I’m confident that Greg’s strong leadership skills and alignment with our culture will serve our customers and associates well. I’m excited about what he will bring to this important part of our business.”
Foran said the promotion “is a privilege that I don’t take lightly.”

“I am excited to get started,” he said. “The needs of our customers are changing dramatically, and we have an enormous opportunity to serve them in new and different ways. We must be fierce advocates for our customers, work meticulously to exceed their expectations and earn their trust every day.”

The company will announce Foran’s successor as president and CEO of Wal-Mart Asia at a later date.