Ed Chan, an executive from Asian retailer Dairy Farm International Holdings, will become the new president and chief executive of Wal-Mart China, the Wall Street Journal reported. He will take over from Joe Hatfield, who spent 12 years building Wal-Mart's China operations from the ground up and is set to remain with the company in a senior advisory position. Chan was behind a number of Greater China acquisitions by Dairy Farm, which owns more than 3,000 supermarkets, beauty chains, convenience stores and restaurants throughout Asia, including 253 in China. His appointment comes as Wal-Mart is engaged in a move to purchase Taiwan-owned hypermarket chain Trust-Mart, which would see the US giant pass Carrefour to become China's largest foreign hypermarket operator.
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