Wal-Mart Continues with Top Management Shifts, Holley to retire in January

Holley, 59, will retire December 31, but will remain with Wal-Mart until January 31 as part of the transition.

Biggs has been executive vice-president and c.f.o. of Wal-Mart worldwide, where he oversees global strategy and finance activities, including business planning and analysis, financial services and support for real estate and mergers and acquisitions.

Shares of Wal-Mart Stores Inc., based in Bentonville, Arkansas, added 8 cents to $66.96 in morning trading Friday.

Holley is retiring as CFO of Walmart after serving in the role since the end of 2010. On average, equities research analysts expect that Wal-Mart Stores will post $4.54 earnings per share for the current fiscal year.

A unit of conglomerate China Resources Corp plans to sell minority stakes it holds in 21 Wal-Mart Stores outlets around China, a spokesman for the United States retailer told Reuters yesterday.

As the controlling shareholder in joint-venture companies in charge of the management and daily operation of the stores, Wal-Mart said it would continue to develop business opportunities, and implement stringent corporate governance and internal controls, in compliance with the country’s laws and regulations. He will continue to report to Greg Foran, Wal-Mart’s US president. Furner previously served as chief merchandising and marketing officer at Walmart China, where he is credited for driving significant improvements in buying leverage and reducing organizational complexity.

“It will be interesting to see how Brett navigates the ship”. He served as CFO of Wal-Mart US from 2012-14 and also has experience with Sam’s Club.

“Hypermarkets have been on the decline in recent years due to their weakening attraction to consumers in first-tier cities, where shoppers are demanding more convenience and a variety of merchandise from online competitors”, said Wang. He has served as CFO of Walmart worldwide since January 2014. Redfield joined Sam’s Club in 1988 as a cashier and moved up the ranks to serve in several operational and merchandising leadership roles, including chief merchandising officer at Asda. “Under his leadership, Wal-Mart’s finance function has transformed into a best in class organization that is both strong and deep, highlighted by today’s appointment of Brett as our new c.f.o”.

Bratspies joined Wal-Mart in 2005 and has held positions in marketing, grocery and general merchandise.