Walmart's Mexico and Central America chief executive, Ignacio Caride, will step down as CEO and from the board of directors after just over a year, the unit of the U.S. retailer said on Friday in a move that surprised analysts.

Wal-Mart de Mexico Chief Executive Ignacio Caride has resigned from his roles and as a board member, the company said.

Wal-Mart de Mexico SAB, the local unit of the US retailer, said Chief Executive Officer Ignacio Caride presented his resignation and is leaving the company’s top job, effective today.