Australian supermarket executive, Greg Foran, will take over as head of the world’s biggest retailer, Walmart.

Foran was controversially overlooked for the role of CEO at Woolworths three years ago in favour of Grant O’Brien.

Foran was formerly head of supermarkets at Woolworths, where he spent a decade, before joining Walmart International in 2011 as a senior VP.

He is currently president and CEO of Walmart Asia, and will take up the role of Walmart US on August 9, replacing Bill Simon.

In his new role, Foran will report directly to Doug McMillon, who took over as president and CEO of Walmart Stores in February.

Simon, who has led the Walmart US division since June 2010, will be available on a consulting basis for the next six months to ensure a seamless transition.

Foran will have control of 4200 stores with  annual sales of US$279 billion, and will receive an annual salary of US$950,000 with the opportunity for performance shares totalling US$13 million up to 2017 .

In an added dig at his former Australian grocery employer, he will also have use of Walmart’s company plane.