Foran is leaving to become the boss of Air New Zealand and will be replaced by the head of Walmart’s Sam’s Club business, John Furner. He will report directly in to group chief executive Doug McMillion.

The changes will take hold from November 1, although Foran will remain with Walmart until January 31 “to ensure a smooth transition”, it said.

Foran joined Walmart in October 2011 and has served as chief executive of Walmart US since August 2014, playing a crucial role in the retailer’s digital transformation strategy.

He presided over like-for-like sales growth during every quarter that he was at the helm of the division.