Former Walmart.com CEO to sit on Staples board

New York -- Staples named former Walmart.com CEO Raul Vazquez to serve on its board of directors.

Vazquez currently serves as CEO and a director of Progreso Financiero, financial services firm focused on serving the needs of "under-banked" Hispanic customers. The election of directors at Staples will take place at the company’s annual meeting on June 3.

Staples chairman and CEO Ron Sargent said: "Raul would be an outstanding addition to our board. He is a multichannel veteran with deep digital expertise and leadership experience in retail, marketing and operations. His global e-commerce perspective would be particularly valuable as we focus on rapidly increasing online sales as part of our strategic reinvention."

Vazquez joined Progreso Financiero last year after previously serving as CEO of Walmart.com and holding a variety of other roles at the retailer. He also served as EVP and president of operations for Walmart’s business unit in western states.