Greg Foran takes the helm at Walmart USA; Brian Cornell takes hot seat at Target
We begin with changes at Walmart, which has appointed Greg Foran as president and CEO of its US business; and Target, which has hired Brian Cornell as its new CEO.
Foran - who earned his retail stripes at Woolworths in Australia - joined Walmart in October 2011, and moved rapidly up the ladder, becoming CEO of Walmart China in March 2012, and CEO of Walmart Asia two years later.
His official start date is August 9, but Foran will spend the next six months working with outgoing boss Bill Simon to ensure a seamless transition.
Target’s new CEO, Brian Cornell, meanwhile, previously worked as PepsiCo America’s food head and at Sam’s Club as president and CEO. He starts on August 12.
Sandy Skrovan, US research director at Planet Retail, said both hires were smart: “Cornell brings with him strong credentials from both sides of the fence – retailing and packaged goods. He is very well-respected. He turned things around at Sam’s Club during his three-year stint there from 2009-2012.”
Hiring Foran at Walmart, meanwhile, "demonstrates that Walmart will not rest on its laurels", he said.
"Walmart is open to bringing in fresh blood and new thinking - something we think will serve Walmart US well as it struggles to turn around lackluster performance and jump-start stagnant sales growth.
“Granted, Foran has just stepped into his new role, but we get the feeling Walmart could very well be grooming him for the top job down the line.”
Main picture: Greg Foran
