Wal-Mart Names New Leader to Head Up Global Ecommerce Business

Wal-Mart Stores Inc. has selected Neil Ashe as the new president and CEO of its global ecommerce business, the company announced Monday.

Ashe, 44, who was most recently president of CBS Interactive, replaces Eduardo Castro-Wright, who announced his pending retirement in September and will assist in the transition, Wal-Mart said.

Wal-Mart has been steadily trying to bolster its online presence with its ecommerce business, which includes Walmart.com and —both located in San Bruno.

According to industry publication Internet Retailer, Wal-Mart generates more than $400 billion in annual revenue and is the sixth-largest Internet retailer, behind Amazon.com, Staples, Apple, Dell and Office Depot, Reuters reported.

As the head of Wal-Mart's online operations, Ashe will be working out of the company's San Bruno location, a spokeswoman said.