Walmart said Thursday that its president and CEO in the U.S., Greg Foran, is stepping down, to be replaced by the head of its wholesale Sam's Club business, John Furner.
Patrick T. Fallon | Bloomberg | Getty Images
said Thursday that its president and CEO in the U.S., Greg Foran, is stepping down, to be replaced by the head of its wholesale Sam's Club business, John Furner.The move will be effective on Nov. 1, Walmart said, while Foran will stay around with the retailer through Jan. 31 "to ensure a smooth transition."
"John has done a fantastic job at Sam's Club, and he will continue the momentum we have in Walmart U.S.," CEO Doug McMillon said in a statement. "John knows our business well, having held many different jobs in the company over more than 25 years, and he is helping transform it for the future. He has the experience and judgment to know what we should continue doing and what we should change.
Walmart shares were falling less than 1% in after-hours trading on the news, having climbed about 28% this year. The stock had closed the day up about 0.6%.
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