Wal-Mart European boss retires
Asda to report directly to US
July 24 2003
Wal-Mart’s president and chief executive of European operations has retired, and the vacant post will not be filled.
The heads of UK supermarket chain Asda, as well as Wal-Mart’s German operation, will now report directly to John Menzer, head of international operations for the world’ biggest retailer.
The move reflects the increasing focus on international growth at Wal-Mart. Asda, acquired in 1999, has prospered under Wal-Mart’s ownership, with the George clothing range now being rolled out in the US and elsewhere. However, the 92-store German chain, formed by the acquisitions of Wertkauf in 1997 and some Interspar stores in 1998, has been less successful.
Wal-Mart said Dave Ferguson, head of its European operations since 2000, had retired on July 18. Ferguson joined Wal-Mart in 1995 and as president and CEO of Wal-Mart Canada grew the business to become the leading retailer in Canada. He took over the European operation in 2000.
