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Walmart’s Mexico and Central America division (Walmex) announced Friday that CEO Ignacio Caride will step down from his role and resign from the board after just over a year, surprising market analysts.
Cristian Barrientos Pozo, current CEO of Walmart Chile and former senior vice president of operations at Walmart de Mexico, will serve as interim chief executive while the company begins its search for a permanent replacement. Barrientos brings over 26 years of retail experience, particularly in expansion, store openings, and digital transformation.
Walmex, the largest retailer in Mexico, operates Walmart, Sam’s Club, and Bodega Aurrera stores across six countries. The leadership shake-up follows a challenging second quarter in which Walmex reported a 10% drop in net profit despite an 8% increase in sales, attributing the decline to a slower-than-expected recovery in consumer spending.
Analysts expressed mixed reactions to the abrupt change but noted potential benefits. JPMorgan said the leadership refresh could address investor concerns over weakening retail execution and poor recent results. Actinver’s Antonio Hernandez called the move “unexpected but positive,” citing the company’s need to tackle declining margins in a highly competitive market. Santander analysts added that while the shift may cause short-term volatility, Barrientos’ deep knowledge of the region should provide stability during the transition.
The announcement underscores Walmart’s strategic focus on improving operational efficiency and strengthening market leadership in Mexico and Central America amid evolving consumer trends and competitive pressures.
