MOVERS / SHAKERS
Eduardo Solorzano Named President
and CEO of Walmart Latin America
CEO of Walmart de Mexico will now lead 10
markets and more than 330,000 associates
W
al-Mart Stores, Inc. recently an- Walmart Supercenters, and later, as
nounced that Eduardo Solor- vice president of this format, he was
zano, president and CEO of Walmart instrumental in the successful imple-
de Mexico, has been named executive mentation of “Every Day Low Prices”
vice president, president and CEO in Mexico. Solorzano went on to be
of Walmart Latin America, where he named executive president for Self-
will oversee Walmart’s operations in Service and then COO, before being
Argentina, Brazil, Chile, Costa Rica, named president and CEO of Wal-
El Salvador, Guatemala, Honduras, mart de Mexico. During his tenure in
Mexico, Nicaragua and Puerto Rico. that role, the company’s sales have
In addition to his new regional role, increased from $137 to $262 billion
Walmart de Mexico announced that pesos, and has expanded from 694 to
it has elected Solorzano chairman of 1329 stores.
the board and that Scot Rank, execu- “Eduardo’s experience in Mexico
tive vice president and COO, has been makes him the best candidate to lead
named to replace Solorzano as presi- our Latin American operations,” Mc- mart Centroamerica, the Walmart de
dent and CEO. Rank is a long-time Millon said. “Walmart de Mexico is Mexico Foundation, A.C., the Mexi-
resident of Mexico and has more than our most successful Latin American can Institute for Competitiveness, and
two decades of ties to the country, in- operation, and with this appointment, the Retail Council for Coca-Cola Latin
cluding nine years with Walmart de Eduardo can further enhance all our America. Solorzano was named “The
Mexico. businesses in the region. His appoint- Person of the Year” in 2009 by Expan-
Based in Walmart’s Latin American ment as chairman of the board at Wal- sion magazine.
regional office in Miami, Solorzano mart de Mexico and a strong succes-
will assume his new role Jan. 18. sor in Scot Rank as CEO there ensures
About Wal-Mart Stores, Inc.
Solorzano has led Walmart de Mex- continuity of strategy and leadership
ico since early 2005, and has overseen in Mexico.” Wal-Mart Stores, Inc. (NYSE:
dramatic expansion of the business “I am looking forward to building WMT), or “Walmart,” serves custom-
in terms of units, associates, sales on the fantastic synergies and talent ers and members more than 200 mil-
and share value. With the company’s we have in Walmart’s Latin America lion times per week at more than 8,000
recent acquisition of Walmart’s op- operations,” Solorzano said. “We retail units under 53 different banners
erations in Central America, he has have great businesses throughout the in 15 countries. ith W fiscal year 2009
been instrumental in expanding the region, and there’s much more we can sales of $401 billion, Walmart em-
company beyond Mexico. In addition, do to meet our customers’ needs.” ploys more than 2.1 million associates
Solorzano was responsible for the A naturalized Mexican citizen, So- worldwide. A leader in sustainability,
conception and creation of Banco Wal- lorzano was born in Managua, Nica- corporate philanthropy and employ-
mart, the world’s first almart W bank, ragua in 1957 and holds a B.S. in Eco- ment opportunity, Walmart ranked
and the development of successful nomics from the Monterrey Institute first among retailers in Fortune Maga-
new formats such as Bodega Aurrera of Technology (ITESM) and an M.S. zine’s 2009 Most Admired Compa-
Express. in Economics from the University of nies survey. Additional information
Solorzano’s career at Walmart de the Americas. In addition to being about Walmart can be found by visit-
Mexico began in 1985, when he joined chairman of the board of Walmart de ing
http://www.walmartstores.com. On-
Grupo Cifra-Aurrera, holding several Mexico, he has served as chairman line merchandise sales are available
management positions in Operations, of the board of directors for Banco at
http://www.walmart.com and http://
Merchandising and Logistics. In 1998, Wal-Mart de Mexico Adelante, and
www.samsclub.com.
he was named director of Food for has been a board member for Wal- Source: Wal-Mart Stores, Inc. & HispanicPRWire
60 HISPANIC NETWORK MAGAZINE Celebrating 18 Years of Diversity
www.hnmagazine.com
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