Wal-Mart hires exec to eye Russia opportunities

Wal-Mart Stores Inc said on Monday it appointed Stephan Fanderl to head the discount retailer's efforts to explore business opportunities in Russia and neighboring markets.

The world's largest retailer, which operates in 13 markets outside the continental United States and has announced a joint venture with India's Bharti Enterprises for a wholesale cash-and-carry operation, has said publicly it is interested in expanding into Russia.

Chief Executive Lee Scott said at the company's analyst meeting in October that Wal-Mart hoped to be in that country "at some point in the future."

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- Posted: 2008-04-14 08:58:07

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