Walmart U.S. CEO Steps Down, Replacement Set

LITTLE ROCK, AR - The CEO of Walmart's U.S. division is stepping down.

The world's largest retailer says Bill Simon is leaving the company and will be replaced by Greg Foran, the President and CEO of Walmart Asia.

Walmart U.S. has struggled with sales recently, growing at the slowest rate in almost five years.

"We need to run better stores and we need to figure out how to generate more sales for our business going forward. And Greg's going to be able to come in and provide a fresh perspective to our business and help us really identify and unlock that growth for our customers," says David Tovar, V.P. of Communications of Walmart.

Walmart says Simon will leave his post in a couple of weeks.

However, he will remain available on a consulting basis for the next six months.

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