Wal-Mart Stores (NYSE:WMT) has promoted Lev Khasis, senior vice president and chief leverage officer for Walmart International, to the positions of president and chief executive of New Formats for Walmart International.

Khasis, the former chairman of the board of Russian supermarket chain Perekristok and former chief executive officer of Russia's X5 Retail Group, has experience in developing "innovative formats" for retail internationally, says the company. He was hired by Wal-Mart in 2011. In his new position, the company says Khasis will "focus on developing new concepts that deliver our purpose and can be deployed across our markets to provide future growth." 

The world's largest retailer, Wal-Mart's international business operates 5,964 wholesale and retail stores, across Africa, South and Central America, Canada, China, India, Japan, and the United Kingdom.


Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.