Walmart Massmart CEO resigns

Source: moneyweb, Tuesday, May 7, 2019

Walmart’s African division Massmart’s CEO, Guy Hayward will step down before the end of the year, ending five years at the helm of the supermarket group as it plans to expand further in Africa. Hayward’s departure comes after the retailer reported a sharp fall in full-year earnings in February and unveiled plans to add 47 new stores between 2019 and 2021 with about a third of them outside its home market of South Africa where growth has stagnated.