Walmart’s subsidiary business in Mexico is seeking a new CEO to lead its operations. Ignacio Caride resigned from that post Aug. 1, saying he plans to exit the company.
Walmart appointed Cristen Barrientos Poza, president and CEO of Walmart Chile, to take over the role on an interim basis while the company searches for a new CEO of the Mexico operations.
Poza previously was senior vice president of operations at Walmart Mexico. Pozo began his retail career as a wine buyer with Walmart Chile and has worked in roles of increasing responsibility during his 26-year career. In addition to naming him interim CEO, the board approved the provisional appointment of Pozo as a Walmex board member.
Walmex operates in Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua, with more than 4,000 stores and clubs and 32 distribution centers.
Caride joined Walmex in 2018 as vice president of e-commerce and was named leader of omnichannel operations in January 2023. He was appointed CEO in April 2024. No reason was given for his resignation.
The exit comes on the heels of a disappointing second quarter for Walmex. Net income fell more than 10% to $598 million, well below the consensus estimate. Revenue increased 8% to $13.138 billion, slightly better than analysts projected. The company reiterated consolidated growth between 6% and 7% for the back half of this year.
Walmart de Mexico trades on the Mexican exchange and closed at $54.25 on Tuesday afternoon, up 35 cents on the day. Over the past 52 weeks, the shares have traded between $50.79 and $67.34.