Senior management changes at Walmart
As it approaches its new fiscal year, Wal-Mart Stores Inc announced a number of changes across the business, drawing on a deep bench of internal talent.
"We are very intentional about developing talent to meet the needs of our rapidly growing business worldwide," said Walmart President and CEO Mike Duke. "The promotions we are announcing are clear evidence that our succession and management development programs work, and that we have highly talented, well-rounded and experienced business leaders ready to step into larger roles when the opportunities arise."
Current Sam's Club President and CEO Brian Cornell, 52, recently informed the company that he and his wife would like to move back to the Northeast for family reasons.
With his departure, Rosalind G. Brewer, 49, is promoted to president and CEO of Sam's Club, reporting to Duke, effective Feb. 1. Brewer was most recently president of the Walmart U.S. east business unit, where she was responsible for more than $100 billion in annual revenue, representing almost 1,600 stores and more than 500,000 associates. Brewer was also the first chairperson of the Walmart President's Council of Global Women Leaders.
"Roz came to us with an outstanding background in consumer packaged goods more than five years ago," said Duke. "During that time I have seen her develop into a talented merchant and retailer. She has strong strategic, analytical and operational skills and has successfully managed a large and complex business. I've also been struck by Roz's servant leadership when I have visited stores with her. She always lets her team do the talking, with her focus being on how to better support their needs."
In speaking about Cornell, Duke said, "Brian has done a terrific job at Sam's Club. He is a strong, high-energy leader who has delivered great results and leaves behind a business with outstanding momentum. In addition to building a talented, high-functioning team to run that business, he has also developed other leaders who now hold senior positions around the globe."
"Being part of the Sam's Club family has been a wonderful personal and professional experience, one that I will always value," said Cornell, who is leaving at a time of strength for that business. "I have felt at home here and have a strong connection to the associates, the company and its values and mission. However, after 30 years of asking my family to follow me all around the globe, it is time to put them first. My wife and I want to put down roots in the Northeast and live in the same ZIP code as our children – not just occasionally seeing them in hotels and restaurants."
Ford will play an important role in helping the company meet its commitment to reduce SG&A expenses as a percentage of sales by more than 100 basis points over the next five years. Ford's efforts will include a focus on leveraging scale, reducing expenses and increasing productivity around the world.