Asia chief is new top banana at Wal-Mart

Wal-Mart Stores has replaced its US head Bill Simon with Asia chief Greg Foran (pictured) as it seeks to restore the fortunes of its largest business after a year of sluggish sales. A 35-year retail veteran who started out as a teenager stocking shelves, Foran is being moved to the US just two months after becoming the head of Wal-Mart’s Asia business.