Walmart named Neil Ashe, former CEO of CNET and president of CBS Interactive, as the new president and CEO of its global ecommerce business, effective immediately. Ashe replaces Eduardo Castro-Wright, who announced in September he would be retiring.
Generating more than $400 billion in annual revenue, Walmart has online businesses in the U.S., United Kingdom, Canada and Brazil. According to Internet Retailer, it is the sixth largest seller of merchandise online, behind Amazon, Staples, Apple, Dell and Office Depot. A new unit, called @WalmartLabs, was introduced in August to help the company increase sales from the ever-growing businesses of smartphones and social networking.
The increased focus on ecommerce is an attempt to further unite the online and retail sides of the business. "Ecommerce is a great opportunity for us and we have a long-term vision to win," said Mike Duke, Walmart's president and CEO. "We are on track to create the next generation of ecommerce, combining the latest in online innovations with physical stores to give our customers a unique and seamless shopping experience. We have an understanding of what these customers want, a trusted brand, 200 million weekly shoppers, more than 10,000 stores around the world, and the ability to make significant investments in talent and technology."
This story was adapted from an original story on Reuters.com.
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