Wal-Mart Stores Inc has this week revealed that its board of directors has elected current executive vice-president finance and treasurer Charles Holley to step into the chief financial officer role that will soon be vacated by the retiring Tom Schoewe.
The change will come into effect on 30 November this year, although Mr Schoewe has agreed to stay on at the retailer until 31 January to help with the transition.
'Charles has great experience both inside Walmart and externally,' said CEO Mike Duke. 'He is a talented strategist who also thoroughly understands the details of our business and the financial markets. As treasurer, he has helped drive the strategy behind the company's strong financial position and has made every organization he has led stronger.
'Charles has also played a strong role in pioneering the company's international expansion. He is respected within the company as well as by the investment community, and has been a key part of our strategic discussions for a number of years,' he added.
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