The FINANCIAL -- Wal-Mart Stores announced that Neil Ashe, 44, is the new president and
CEO of the company’s Global eCommerce business, beginning on 16 January, according to Wal-Mart Stores.
Ashe was most recently president of CBS Interactive, where he led all online properties and also drove development of new ways to distribute programming produced by the media giant and its subsidiaries. Websites included CBS.com, CNET.com, CBSNews.com, and CBSSports.com, among others.
Ashe is replacing Eduardo Castro-Wright who announced his pending retirement in September and will assist in the transition.As president of CBS Interactive, based in San Francisco, Ashe led the interactive content business with operations in the U.S., Europe and China. After leading the successful integration of CNET Networks with CBS, he and his team leveraged existing company assets to ramp up CBS entertainment content distribution online, including making CBS.com the largest television network site in the industry.
Prior to this, Ashe was CEO of CNET Networks, initially best known for providing technology-related information, product reviews and price comparisons through CNET.com. He also oversaw dramatic development in the company’s China division, taking it from a small magazine and events operator to a highly profitable, fast-growing online business. During his tenure, the company’s value increased from $100 million to $1.8 billion. Ultimately, Ashe led the sale of the company to CBS and became president of CBS Interactive at that time.
Earlier, Ashe founded a company focused on using the Internet to improve K-12 education in the U.S. Prior to this, he was a partner and managing director at private investment firm Crest Communications Holdings and, before that, was an associate at Smith Barney, the investment bank now part of Citigroup.
Ashe has an M.B.A. from the Harvard Business School and a B.S. in Business Administration, with a major in Finance, from Georgetown University. He serves on the boards of LivingSocial, AMC Networks and the Georgetown University Board of Regents.
Over the past year, Walmart has made investments in capabilities and talent as it continues to build Global eCommerce. It has also further strengthened its position through the acquisition of small Internet specialty companies and continues to expand in new markets such as China and Brazil, including a minority stake in Chinese Internet retailer Yihaodian.
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