Eduardo Castro-Wright told a meeting of about 7,000 Wal-Mart store managers Wednesday that "there are no management changes planned beyond the ones we clearly outlined last week," according to
Wal-Mart spokeswoman Sarah Clark.
Citing unidentified sources and an internal memo, Ad Age reported Tuesday that among other management shakeups, Castro-Wright would move to a
position in the retailer's international business and be replaced as president and CEO of its U.S. operations by Doug McMillon, the executive in charge of Wal-Mart's Sam's Club division.
Castro-Wright was speaking in Kansas City to an annual meeting of Wal-Mart managers and suppliers, which the Bentonville, Ark.-based retailer keeps under tight wraps. Reporters are not allowed
into the four-day event that ends today. It focuses on new merchandise and store goals for the year ahead.
advertisement
advertisement
Read the whole story at Business Week/AP »