Walmart Inc (WMT.N) on Wednesday promoted Kathryn McLay, CEO of its Sam’s Club unit, to head its $100 billion international business at a time when high inflation is squeezing spending in many global markets and China’s economy is slowing.
McLay, a 49-year-old Australian considered a star within the U.S. company’s ranks, will take over the division on Sept. 11, succeeding Judith McKenna, who is retiring after 27 years with the company.
McLay, who joined Walmart in 2015, will run an international business that spans 19 countries, including China, where slowing economic growth has raised global concerns and sales in the hypermarket sector are falling as purchases shift online.
Read the full story on Reuters here.