Wal-Mart Hires Lev Khasis

Wal-Mart Stores hired Lev Khasis, former head of food retailer X5, as a senior vice president and chief leverage officer, a spokeswoman for the company said Thursday, an indication that Wal-Mart has yet to abandon plans for an entry into Russia.

Wal-Mart appeared to have given up in December, when it closed its Moscow office due to a lack of acquisition opportunities.

Khasis, who grew X5 by acquisition into a Russian market leader with $11 billion in annual sales, left the company in March after five years. The Wal-Mart spokeswoman said Khasis would be based at the company's headquarters in Bentonville, Arkansas, reporting to international chief executive Doug McMillon.


Read more