Walmart Inc. (WMT.US) undergoes major changes: E-commerce leader takes over US operations as the countdown to CEO handover begins.

The American retail giant Walmart Inc. has appointed new heads of its three core business departments, completing a round of "changing blood" in the executive team of the world's largest retailer. On Friday (January 16) local time, Walmart Inc. (WMT.US) announced on its official website that David Guggina, Executive Vice President and Chief E-commerce Officer of the company's U.S. business, will become the President and Chief Executive Officer of Walmart Inc.'s U.S. businessthe largest and most important business sector of the company. This means Guggina will succeed John Furner, who will become the CEO of the entire group, replacing Doug McMillon, who is scheduled to retire at the end of this month. McMillon has been leading Walmart Inc. for over ten years, successfully transforming the company from a traditional brick-and-mortar retailer into a digital retail giant. In the latest fiscal year, McMillon's total compensation was approximately $27.4 million, including $1.5 million in base salary, $20.4 million in stock awards, and other compensation. The 40-year-old Guggina joined Walmart Inc. from Amazon.com, Inc. about eight years ago and quickly rose through the ranks within the company. Since January last year, after overseeing supply chain operations, he began leading the U.S. online business. By expanding delivery coverage and reducing transportation costs, this digital business has been driving growth in the U.S. market and is gradually becoming profitable. His appointment highlights Walmart Inc.'s ambition to further strengthen and expand its e-commerce capabilities. Next, Guggina will be responsible for a business area with annual sales of tens of billions of dollars, and will strive to continue the company's recent strong momentum. However, he will also face challenges such as increasingly demanding consumers, uneven consumer confidence, and a weakening job market. Currently, the competition in the U.S. retail sector is highly intense, with competitors such as Costco, Target Corporation, and Aldi continuing to invest heavily to lower prices and improve store and online shopping experiences. At the same time, Amazon.com, Inc. continues to encroach on Walmart Inc.'s territory; while Walmart Inc. is strengthening its e-commerce business, it is also signaling further expansion of its physical store and fresh business layout. In an internal memo to employees, Furner wrote, "One key to maintaining the momentum of growth is ensuring that we have an organizational structure that can win." He added that the company is enhancing efficiency through adjustments. In regulatory filings, Walmart Inc. disclosed that Furner's base salary is $1.5 million annually, with eligibility for $17 million in stock incentives each year; he will also receive a one-time restricted stock award worth $10 million. In its latest announcement, Walmart Inc. also appointed 51-year-old Latriece Watkins, Chief Merchandising Officer of Walmart Inc.'s U.S. business, as the President and Chief Executive Officer of Sam's Club U.S. Chris Nicholas, the current executive, will instead be responsible for Walmart Inc.'s international business, replacing the soon-to-be-departing Kathryn McLay. The membership-based chain is opening new stores in the U.S. and renovating existing ones to increase its membership base and compete with larger rivals like Costco. In addition, Seth Dallaire has been promoted to Chief Growth Officer of the group. Previously responsible for Walmart Inc.'s advertising, membership, and other non-retail businesses in the U.S., he will assist in driving expansion strategies for Walmart Inc.'s platform commerce business, areas that are becoming important engines for profit growth. Last year, Walmart Inc.'s stock price rose by 24.49%, outperforming the S&P 500 index. Next week, Walmart Inc. will join the Nasdaq 100 index. In December last year, the company transferred its stock listing from the New York Stock Exchange to the Nasdaq. This article is reproduced from "," written by Zhao Hao; translated by GMTEight edited by Yan Wencai.