Walmex CEO Caride Steps Down; Barrientos Named Interim

Walmart de México y Centroamérica (Walmex) announced that Ignacio Caride is stepping down as CEO and board member, just over a year after taking the helm. Cristian Barrientos Pozo, current CEO of Walmart Chile and former senior VP of operations at Walmex, has been appointed interim CEO while a formal search is underway.

With more than 26 years in retail, Barrientos brings experience in store expansion, digital transformation, and operations—a background analysts say could help steady the company during the transition.

The leadership change follows a 10% drop in Walmex’s second-quarter net profit, attributed to weaker-than-expected consumer spending, despite an 8% increase in overall sales. Walmex operates Walmart, Sam’s Club, and Bodega Aurrera stores across six countries and is the largest retailer in the region.

Market reactions have been cautiously optimistic. JPMorgan noted that leadership changes can create uncertainty but may also bring sharper focus amid slowing performance. Actinver’s Antonio Hernández described the timing as “unexpected but positive,” given ongoing margin pressures and a competitive market.

Santander analysts emphasized Barrientos’ familiarity with the business and local market, saying it could help ensure continuity. While short-term stock volatility is possible, they see potential for operational improvements under his leadership.