A new year will bring new leadership at Wal-Mart de Mexico.

Enrique Ostalé will become CEO and president of Wal-Mart de Mexico on Jan. 1. He will add the title to his current positions of chairman of the board of Wal-Mart de Mexico, also known as Walmex, and president and CEO for Wal-Mart Latin America. He replaces Scot Rank, who is leaving. Rank has worked for Walmex for 14 years. 

Ostalé joined Wal-Mart Latin America, No. 4 in the Internet Retailer 2014 Latin America 500 Guide as part of the retailer’s 2009 acquisition of the Chilean retailer D&S, now Walmart Chile, where he held several positions in merchandising, operations and finance since 1989. Ostalé served as chief financial officer at the retailer from 1997 to 2000 and as president and CEO from 2006 to 2013, until he was named president and CEO for Latin America.

“Mexico and Central America is a priority market for Wal-Mart,” says David Cheesewright, president and CEO of Walmart International. “Enrique has excellent global experience within the retail industry and will drive growth opportunities throughout the region, both in stores and through our growing e-commerce business. He is a strong leader, and his cross functional experience will ensure that we remain well positioned to serve the two billion customers that count on Walmex every year.”

Cheesewright adds that Ostalé’s dual role of CEO for both Walmex and Walmart Latin America will give him the ability to exploit the retailer’s expertise and capability across nine markets in the region, taking advantage of the growth opportunities that the region has to offer.