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Wal-Mart Stores is promoting Fernando Madiera to CEO of, replacing Joel Anderson.

Anderson is leaving Walmart to take the CEO role at Five Below, a value-priced children and teen apparel chain, Five Below said.

Madiera most recently was CEO of Walmart’s Latin American e-commerce business, based in Sao Paulo. Madiera will relocate to’s offices in San Bruno, Calif.

Madiera is well regarded for having grown Walmart’s e-commerce efforts in Brazil, Chile, Argentina and Mexico. The Bentonville, Ark.-based company posted $10 billion in Internet sales worldwide in 2013 and is aiming for $13 billion in sales this year, executives said at its annual meting last week.

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