Walmart names new Latam leader, Solorzano still Walmex chairman

Fri Jan 11, 2013 11:37am EST

(Reuters) - Wal-Mart Stores Inc (WMT.N) said on Friday that Enrique Ostale will become president and chief executive of Walmart Latin America, succeeding Eduardo Solorzano, who will continue to serve as chairman of the board of directors at Wal-Mart de Mexico (WALMEXV.MX).

The move comes as the world's largest retailer remains under fire following a New York Times report in April 2012 that said Wal-Mart had intentionally stifled an early internal probe into allegations that Walmex officials had paid bribes to help build stores in Mexico. Solorzano was the CEO of Walmex in the mid-2000s, when the alleged bribery was said to have taken place.

Ostale had been president and CEO of Walmart Chile, formerly known as D&S, and will take on his new role on March 1, Wal-Mart said. He will be responsible for operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua.

(Reporting by Jessica Wohl in Chicago; editing by John Wallace)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article