Wal-Mart names new US CEO

Wal-Mart yesterday named Bill Simon to run its US discount stores, which have struggled with sluggish sales as their core customer continues to be pressured by high unemployment. Simon, 50, had been chief operating officer of Walmart US. The move allows Eduardo Castro-Wright, who had headed the US unit, to move to California and be with his wife, who is recovering from a heart transplant. Castro-Wright, 55, will continue as vice chairman of the world’s largest retailer and as head of the company's global e-commerce initiatives and global sourcing, assignments he has had since January and 2008, respectively.