Luo Ruilan, senior vice president of Wal-Mart China, handed in his resignation shortly after the company's COO Luo Shicheng left earlier this month, National Business Daily reported Thursday.

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The back-to-back resignations triggered some speculation, since they happened just days before Wal-Mart China is expected to officially acquire the China-based supermarket Trust-Mart on May 26.

Wal-Mart China PR Manager Zheng Zhong said the reasons behind the executives' resignations are personal. According to the report, he would not confirm they had anything to do with the acquisition of Trust-Mart.

In February 2007, Wal-Mart invested $264 million in acquiring a 35 percent stake in Taiwan-based Bounteous Company Ltd, the operator of Trust-Mart in the Chinese mainland. The acquisition planned for May 26 was delayed twice before, according the report.