Wal-Mart Names Enrique Ostale CEO of Latin America Unit

Wal-Mart Stores Inc. of Bentonville announced Friday that Enrique Ostale, president and CEO of Walmart Chile, formerly D&S, has been named executive vice president, 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.

Ostale will assume his new role 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, the company said.

Ostale joined D&S in 1989, working as manager of the company's finance division, merchandising division and Lider format division, and then as the CFO.

In 2000, he left D&S to be CEO of El Mercurio Online, the website for Chile's El Mercurio Newspaper. He was later dean of the business school of the Adolfo Ibanez University from 2002 to 2006. In 2006, he rejoined D&S as president and CEO. According to Wal-Mart, Ostale was key in leading D&S's successful transformation to Walmart Chile after Walmart's acquisition of D&S in 2009.

Meanwhile, Gian Carlo Nucci, executive vice president and COO of Walmart de Mexico, has been named to replace Ostale as president and CEO of Walmart Chile. 

Wal-Mart has more than 373,000 employees and 3,832 retail units in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua.