Walmart Inc said on Thursday its chief executive for U.S. operations, Greg Foran...
FILE PHOTO: Greg Foran, president and CEO of Walmart U.S., speaks about the company's Black Friday plans at a Walmart store in Secaucus, New Jersey, November 11, 2015. REUTERS/Lucas Jackson
Foran’s departure is likely to be considered a blow for Walmart given the New Zealand native is credited with turning around Walmart’s U.S. business by focusing on improving existing stores. Walmart reported 20 quarters of comparable sales growth under his leadership. Walmart Inc Chief Executive Doug McMillon said Foran’s ability to innovate, including using new technology, “has helped position us for the future.”“While we’ve been highly impressed with Mr. Furner’s work at Sam’s Club... he does admittedly have big shoes to fill,” said a note from Jefferies Group LLC . “We can’t help but expect the market to react negatively to today’s news.”
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