Wal-Mart Stores, Inc. (NYSE: WMT) is making a series of management changes today. While this is not the CEO level of the whole company, CEO Mike Duke noted, “Current Sam’s Club President and CEO Brian Cornell recently informed the company that he and his wife would like to move back to the Northeast for family reasons.” There is a large common theme here this morning: women are moving into top positions here as three of the top promotions are women.
Cornell is 52 years of age, so this is not retirement. He is being replaced by Rosalind G. Brewer, who is 49 years old, as president and CEO of Sam’s Club. She will report directly to Mike Duke and her effective date will be February 1. She was most recently president of the Walmart U.S. east business unit.
- The company also noted that Rollin Ford, who is 49 years old, is being promoted to chief administrative officer (CAO) for the company, effective February 1.
- Another change is that Gisel Ruiz is being promoted to executive vice president and chief operating officer for Walmart U.S. with an effective date of February 1. She is 41 years of age.
- Karenann Terrell is being promoted to chief information officer for the company with an effective date of February 1. She is 50 years of age.
Today may not seem like much of an event-driven stock moving event. It may be more symbolic than anything. Still, it stood out. Wal-Mart stock is also at a crossroads right now as it is looking as though it wants to break out of a very long-term trading range. Wal-Mart shares are up 0.4% today at $60.87 and the 52-week trading range is $48.31 to $61.06.
JON C. OGG