Wal-Mart names executives for China top jobs

May 29, 2011 8:02 PM EDT

Wal-Mart Stores Inc (WMT.N) has named new executives for top jobs in China, just days after two high-level departures left leadership gaps in an increasingly strategic market for the retail giant.

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Wal-Mart's next chief financial officer for China will be Mario-Jose Medina, currently its Chile CFO, and Del Sloneker, a former senior vice president, will become chief operations officer for China with responsibility for store operations, the company said in a statement dated May 27.

Just last week Wal-Mart announced that its CFO for China, Roland Lawrence, and its China COO, Rob Cissell, had both resigned "to explore other opportunities."

Wal-Mart is trying to expand its footprint in China to capture consumption from the country's booming middle class.

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Medina and Sloneker will start their new jobs as soon as they complete visas and other procedures, the company said.

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Medina joined Walmart in 2007 as CFO of Walmart Puerto Rico before becoming CFO of Walmart Chile. Sloneker served as senior vice president in several functions at Walmart Stores Inc. from 1986 to 2006 and is "well versed with the China market," the company said.

Since first opening its doors in China in 1996, Wal-Mart has expanded to more than 300 stores in over 120 cities, with 95,000 employees.

Earlier in May, Wal-Mart announced plans to buy a minority stake in Chinese e-commerce company Yihaodian, giving the world's largest retailer a stronger foothold online and in the fast-growing China retail market.

It also invested in China's top online seller of consumer electronics and communications products, 360buy, in late 2010.