Solorzano named President and CEO of Walmart Latin America.

Wal-Mart Stores, Inc. announced that Eduardo Solorzano, president and CEO of Walmart de Mexico, has been named executive vice president, president and CEO of Walmart Latin America, where he will oversee Walmart’s operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Puerto Rico.
   
In addition to his new regional role, Walmart de Mexico announced that it has elected Solorzano chairman of the board and that Scot Rank, executive vice president and COO, has been named to replace Solorzano as president and CEO. Rank is a long-time resident of Mexico and has more than two decades of ties to the country, including nine years with Walmart de Mexico. 
   
Based in Walmart’s Latin American regional office in Miami, Solorzano will assume his new role Jan. 18. 
   
Solorzano has led Walmart de Mexico since early 2005, and has overseen dramatic expansion of the business in terms of units, associates, sales and share value. With the company’s recent acquisition of Walmart’s operations in Central America, he has been instrumental in expanding the company beyond Mexico. In addition, Solorzano 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. 
   
Solorzano’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 was named director of Food for Walmart Supercenters, and later, as vice president of this format, he was instrumental in the successful implementation of “Every Day Low Prices” in Mexico. Solorzano went on to be named 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 have increased from $137 to $262 billion pesos, and has expanded from 694 to 1329 stores. 
   
“Eduardo’s experience in Mexico makes him the best candidate to lead our Latin American operations,” McMillon said. “Walmart de Mexico is our most successful Latin American operation, and with this appointment, Eduardo can further enhance all our businesses in the region. His appointment as chairman of the board at Walmart de Mexico and a strong successor in Scot Rank as CEO there ensures continuity of strategy and leadership in Mexico.” 
   
“I am looking forward to building on the fantastic synergies and talent we have in Walmart’s Latin America operations,” Solorzano said. “We have great businesses throughout the region, and there’s much more we can do to meet our customers’ needs.”