FORMER Woolworths Supermarkets boss Greg Foran has scored the lucrative but challenging position of Walmart US chief executive.
Mr Foran left Woolworths in 2011 when he was passed over for the group chief role. He will now head up all of Walmart’s American operations, which includes more than 4000 stores. Its sales account for 60 per cent of Walmart’s revenues which totalled almost $500 billion last year.
The Australian reported his salary will be $1 million. But if performance targets are met, he could be in line for shares valued at $13.8 million up to 2017.
Mr Foran is the father of Manly Sea Eagles player Kieran Foran, who also plays international games for New Zealand.
He replaces Bill Simon who will be “transitioning out of the company”. Walmart US has had declining same-store sales in recent quarters.
Mr Foran joined the Walmart family in 2011 after leaving Woolworths and is currently head of Walmart Asia. He starts the new role on August 9, reporting to Walmart chief executive Doug McMillon.
“Greg is one of the most talented retailers I’ve ever met. His depth of knowledge and global experience will bring a fresh perspective to our business,” Mr McMillon said.
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