Wal-Mart (NYSE: WMT)'s international chief, John Menzer, is leaving the company after 12 years. Menzer will retire on March 1, leaving behind a good legacy of international expansion and growth, along with a few high-profile failures in the process.Although Wal-Mart has done exceptionally well in Mexico recently, the world's largest retailer also failed miserably in Germany and South Korea. It exited both countries at the same time it was mulling market introductions into China and India (which it completed in 2007).
Wal-Mart CEO Lee Scott gave huge kudos to Menzer, saying, "I have seen first-hand the difference he has made ... he is probably best known for transforming Wal-Mart International into a well-organized, fast-growing and profitable business. But he is also a talented corporate strategist and I personally have found him to be a valued business counselor."
Menzer's streak in finding nuggets in the rough to allow Wal-Mart entry into many global markets was impressive. He led the acquisition of UK-based ASDA (turning out well) as well as Japan's Seiyu (not so well). Wal-Mart has said that it will divide his responsibilities into individual international businesses to achieve tighter focus, meaning Wal-Mart's growing international presence will see more autonomy than before. To ensure it can grow its business outside the U.S. (its largest market), this is most likely for the better.
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