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Wal-Mart names new chief of Walmart Latin America; Solorzano to retire

Bentonville, Ark. -- Wal-Mart Stores announced that Enrique Ostale, president and CEO of Walmart Chile, formerly D&S, has been named EVP, president and CEO of Walmart Latin America, where he will oversee Walmart's operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua.

Based in Walmart's Latin American regional office in Mexico City, Ostale will assume his new role on March 1. Eduardo Solorzano will retire as president and CEO of Walmart Latin America and continue to serve as chairman of the board of directors at Walmart de Mexico.