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Wal-Mart Stores, Inc. has named Eduardo Solórzano its new regional president and CEO, concurrent with the opening of its new headquarters office in Miami for the company’s Latin America regional operations.
“We’re very enthused about having our new Latin America regional headquarters here in Miami, which some describe as a gateway to Latin America,” Solórzano said, speaking to reporters at his first press conference in his new role. “The opening of this new regional office reflects a renewed level of service and support Walmart Latinoamérica is ready to provide to our markets, to our associates, to our stores and to the people in countries throughout Latin America, whether we have stores in those countries yet or not.”
The office also ensures the nine countries where Walmart operates in Latinoamérica, including Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua, can make decisions with speed and have the support they need to be “customers’ first choice in retailing,” said Solórzano.
“Throughout Latin America, we are focused on the fundamentals of growth, leverage and performance. Our strengthened regional operations will be an asset to all three. By leveraging Walmart’s energy as both a global retailer and purchaser, we enable individual Walmart stores to deliver lower prices and better value to consumers. We also look forward to coordinating synergies between our organizations in the different countries of Latin America,” noted Solórzano.
Solórzano’s right-hand Miami-based regional leadership team includes natives of Argentina, Brazil, Chile and Mexico, “people who respect and understand the different cultures of not only the countries where we do business, but also countries where we could potentially do business in the future,” he said, adding, “We are primed for a continuing and expanding role in the growth of Latin America, not just as retailers, but as responsible corporate citizens.”
Solórzano assumed his new role Jan. 18, having led Wal-Mart de Mexico SAB since early 2005, in which capacity he oversaw dramatic expansion of the business in terms of units, associates, sales and share value. With that company’s recent acquisition of Walmart’s operations in Central America, he was instrumental in expanding the company beyond Mexico. In addition, Solórzano was responsible for the conception and creation of Banco Walmart, the world’s first Walmart bank, and the development of successful new formats such as Bodega Aurrera Express.
Solórzano’s career at Walmart de Mexico began in 1985, when he joined Grupo Cifra-Aurrera, holding several management positions in operations, merchandising and logistics. In 1998, he became director of food for Walmart Supercenters, and later, as VP of this format, he was instrumental in the successful implementation of “Every Day Low Prices” in Mexico. Solórzano went on to be executive president for self-service, and then COO, before being named president and CEO of Walmart de Mexico. During his tenure in that role, the company’s sales increased from $137 billion pesos to $262 billion pesos, and expanded from 694 to 1329 stores.