New York — Joel Anderson, president and chief executive officer of Walmart.com., has left the online giant to assume the role of president at Five Below, which targets pre-teens and teens with trendy, extreme-value merchandise priced at $5 and below. Walmart has appointed Fernando Madeira, CEO of Walmart.com's Latin America unit, as the new head of Walmart.com. He will relocate from Sao Paulo, Brazil, to San Bruno, California, where Wal-Mart’s global e-commerce operation is based.
Wal-Mart’s global online sales crossed the $10 billion threshold last fiscal year, and the discounter expects them to reach $13 billion in its current fiscal year.
Madeira, who will report to Neil Ashe, president and CEO of Walmart Global eCommerce, has driven impressive online sales at Wal-Mart's Latin American e-commerce site by offering a broader assortment and improving fulfillment, the company said.
“We've seen Brazil grow twice as fast as the market, while increasing traffic fourfold," Neil Ashe, Wal-Mart's CEO of global e-commerce, said in a memo. "In other markets, they've leveraged sales and marketing efforts, driving triple-digit growth in Argentina, Chile and Mexico."
In his new role at Five Below, Anderson will lead all aspects of merchandising, stores and marketing. He will join the company in July.
"We have been actively engaged in a search for the right candidate to fill the role of president and we are incredibly excited to have someone with Joel's talent and extensive experience joining the Five Below team," said Tom Vellios, CEO, Five Below, Philadelphia.
Anderson spent three years as president and CEO of Walmart.com. Prior to that spent four years in senior operations roles at the company. He also spent 12 years at Toys "R" Us, in various roles and activities including marketing, online, new ventures and operations.
"I see an enormous opportunity ahead to build on the company's solid foundation as we expand the reach of the Five Below brand and continue to elevate how we market, merchandise and connect with our customers,” Anderson said.