Wal-Mart US CEO Bill Simon to leave company

Departure

Wal-Mart says U.S. CEO Bill Simon is leaving the company and will be succeeded by Greg Foran.

Greg Foran will take over the reins of Walmart U.S. from Simon. Since March 2012, Foran had served as the president and CEO of Walmart China.

Simon has been at the helm of Wal-Mart's U.S. unit, which has struggled recently to deliver positive comparable sales, since mid-2010.

The retail has seen a wave of recent executive departures. Nine large retailers are still searching for a CEO.

-By CNBC

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