By Anthony Harrup


Wal-Mart de Mexico, Mexico's biggest retailer by sales, will propose Ignacio Caride as its new chief executive as the current CEO takes on another role at Walmart International.

Walmex, as the unit of Bentonville, Ark.-based Walmart is known, said Friday that Caride would replace Guilherme Loureiro, who will be appointed Walmart's regional director for Canada, Chile, Mexico and Central America.

Caride joined Walmex from in 2018 as vice president of ecommerce, and last year took charge of the company's omnichannel operations. He designed the strategy for the retailer's financial services, including credit and remittances, Walmex said.

His appointment as CEO will be proposed at the company's board meeting on April 30. The two executives will begin a transition period over the next two months, Walmex said.

The company added that Loureiro is expected to be appointed chairman of the Walmex board in the second half of this year.


Write to Anthony Harrup at


(END) Dow Jones Newswires

04-12-24 1203ET