Walmart China CEO Resigns
(Beijing) – Walmart China CEO Chen Yaochang announced his resignation October 17, along with one other senior executive at the company.
Wang Yujia, the company's Senior VP, resigned the same day. Walmart spokeswoman Li Ling told Caixin that both Chen and Wang left the company for "personal reasons," and that the exits were unrelated to a scandal over pork mislabeled as organic in Chongqing.
In early October, authorities in Chongqing fined Walmart China a total of 2.69 million yuan for labeling regular frozen pork as organic, or, "green." 13 stores had operations suspended for two weeks.
Chen became the head of Walmart China in 2006, overseeing the company's 353 outlets throughout Mainland China. Scott Price, Walmart Asia CEO, will serve as the CEO in the China region until a replacement is found.
According to a CCTV report on September 20, Walmart has faced over 20 fines from local authorities in the past five years.
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