Wal-Mart Stores, Inc. (WMT) names Fernando Madeira as Walmart.com CEO
Wal-Mart Stores Inc. (NYSE:WMT) has named its Latin American head Fernando Madeira as CEO of Walmart.com, the e-commerce division of Wal-Mart Stores. Madeira was previously the president and CEO of Latin America for Walmart.com. Madeira will now be the head of Walmart.com for the U.S., Latin America, and other regions. Madeira will be replacing Joel Anderson.
Anderson is leaving Walmart.com to join another company on June 20th. Madeira will be integrating Walmart’s web sales with retail locations. Walmart.com has less of an e-commerce marketshare than Amazon.com and its e-commerce division accounted for around 0.3% of U.S. sales last quarter. Based in Sao Paulo, Madeira fueled sales gains at Wal-Mart’s Latin American e-commerce site by offering a broader assortment and improved fulfillment.
“We’ve seen Brazil grow twice as fast as the market, while increasing traffic fourfold,” state Wal-Mart’s CEO of global e-commerce, Neil Ashe. “In other markets, they’ve leveraged sales and marketing efforts, driving triple-digit growth in Argentina, Chile and Mexico.” Madeira will now relocate to the Bay Area of California where Walmart.com is based.