Gelmart International Industries

Wal-Mart Stores, Inc. announces that David Cheesewright will be promoted to president and CEO of Walmart International, the company's second largest operating segment.

Mike Duke retires as CEO after delivering strong financial performance and developing building blocks that position the company for continued success.

Earlier this week,Wal-Mart Stores, Inc. President and CEO Mike Duke assuredinvestors Walmart will win no matter what environment it's in. "When you go to our stores, you're going to see fantastic new merchandise, aggressive investments in price through lots of rollbacks and better in-stock levels. We're focusing on execution to deliver results." Here's a review of progress that's been made and Walmart's plans for the future.

Walmart U.S. has delivered three consecutive months of positive same store sales. That means big plans for growth through 2013 even though operating expenditures will decrease significantly. New stores will add between 45 and 49 million square feet worldwide in the next fiscal year. The company also forecasted sales growth between 5 and 7 percent for fiscal year 2013.

Besides her financial background, Wan Ling Martello has extensive insight of the consumer and branded goods category.

The retail giant has offered to acquire 51 percent of the shares of Massmart Holdings Limited, a managed portfolio of nine wholesale and retail chains, and one buying group. The deal will accelerate its expansion in South Africa, a high growth market.