Walmart.com names new US chief

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Associated Press

Posted on June 10, 2014 at 9:03 AM

Updated Tuesday, Jun 10 at 9:03 AM

NEW YORK (AP) — Walmart.com U.S. CEO and President Joel Anderson is leaving at the end of the month to take a job as president of discount-store chain Five Below Inc.

Anderson, who was in his role for three years, will be succeeded by Fernando Madeira, who will be taking on a bigger role, according to a memo sent to Wal-Mart Stores Inc. employees.

Madeira, who is currently president and CEO of Latin America at Walmart.com, will be assuming a newly created role leading Walmart.com in the U.S., Latin America and any other growth areas.

Walmart.com says Anderson's last day at the world's largest retailer is June 20.

Walmart.com's online sales were up more than 30 percent to $10 billion for the year ended Feb. 1.

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