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Eduardo Castro-Wright, who was hailed the savior to the U.S. sales for Wal-Mart Stores Inc.'s (NYSE:WMT) U.S. operations, denies that he will be leaving the company any time soon. There are rumors that Wright will soon be replaced by Doug McMillon, head of U.S. operations for the Sam's Club division.With the jumpstart that Wright needed in the U.S. since the middle of 2006 not really happening in any measurable way, it's easy to see how this rumor may have been started. John Fleming, head of Wal-Mart's Marketing group and a former Target Corp. (NYSE:TGT) alumnus, is changing the way Wal-Mart buys its goods from suppliers, which caused the rumor about Wright's departure apparently.
If there are any further developments to this story, rest assured I'll be posting a follow-up.
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