Wal-Mart Stores Inc has opened new headquarters in South Florida for the company's Latin America operations, and named former Wal-Mart de Mexico boss as its regional president and CEO.

Eduardo Solorzano, who headed Wal-Mart de Mexico SAB from early 2005, said the office in Miami will help in-country operations speed their decision-making as they expand their business in the region.

“By leveraging Walmart's energy as both a global retailer and purchaser, we enable individual Walmart stores to deliver lower prices and better value to consumers,” he added.

Walmart operates in nine countries in Latinoamerica, including Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua.