Wal-Mart Replaces China Bosses

BY LAURIE BURKITT

BEIJING—Wal-Mart Stores Inc. moved quickly to replace two of its top China executives who resigned on May 21, rattling the retail giant as it strives to gain market share in one of its strategic growth markets.

The world's largest retailer tapped Mario-José Medina to head its financial operations in China, according to a company statement. Mr. Medina joined the company in 2007 and has served as the chief financial officer of Wal-Mart Puerto Rico and most recently of Wal-Mart Chile. Del Sloneker, ...

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Glencore Bosses' Payday: $23 Billion

BY DANA CIMILLUCA AND ALISON TUDOR

LONDON—Glencore International AG, the private Swiss commodities trader, pulled back its veil further Wednesday as it prepares to enter the public markets, giving investors a clearer indication of the company's value—and the $23 billion combined stake that will be owned by its top five executives, including Chief Executive Ivan Glasenberg.

Glencore, which three weeks ago announced its intention to go public, on Wednesday provided prospective investors with a trove of new information. The company indicated that at the midpoint of its estimated valuation range it would be worth about $61 billion, including the issuance of new shares.

Earlier figures released ...

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