BENTONVILLE, Ark. -- (Business Wire)
Wal-Mart Stores, Inc. (NYSE: WMT) today announced that its Board of
Directors has appointed Tom Horton, former chairman and CEO of American
Airlines, as a new member of the company’s Board, effective Nov. 21.
Horton became the 16th member of the Board and will also
serve as a member of the company’s Audit Committee.
"Tom’s management and business experience and, in particular, his roles
in operational and financial management at American Airlines will bring
valuable insights to the Board," said Walmart Chairman Rob Walton. "His
broad leadership roles combined with his global insights and
understanding of the corporate issues a multinational company manages
will benefit the Board, our management team and our shareholders."
"I’ve long admired Walmart’s values and its successful record of
improving people’s lives around the world," said Horton. "Walmart has a
strong leadership team backed by a solid business plan and is building
new and innovative ways to serve customers. I look forward to working
with my new colleagues on the Board."
Horton, 53, has more than 30 years of business and finance experience.
He joined American Airlines in 1985 from international accounting
partnership firm Peat Marwick & Company, now KPMG, and continued with
American until 2002, rising to the role of Senior Vice President,
Finance and CFO. He left American in 2002 for AT&T, where he served as
CFO and later was appointed Vice Chairman. In 2005, Horton led the
evaluation of strategic alternatives that ultimately led to the
combination with SBC Communications, which formed the new AT&T.
In March 2006, Horton returned to American as Executive Vice President
of Finance and Planning. He was named President in 2010 and Chairman and
CEO in 2011, where he led American through a successful restructuring
and turnaround which culminated in the merger with US Airways, creating
the world's largest airline. He stepped down as President and CEO of
American in December 2013 and remained non-executive Chairman of the
board until June 2014.
Horton holds a Master of Business Administration degree from the Cox
School of Business at Southern Methodist University (SMU) and a Bachelor
of Business Administration degree, magna cum laude, from Baylor
University. He serves on the Board of Directors of Qualcomm, Inc., a
leading developer and innovator of advanced wireless technologies. He
also serves on the Executive Board of the Cox School of Business at SMU.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save
money and live better – anytime and anywhere -- in retail stores,
online, and through their mobile devices. Each week, more than 250
million customers and members visit our 11,156 stores under 71 banners
in 27 countries and ecommerce websites in 11 countries. With fiscal year
2014 sales of over $473 billion, Walmart employs approximately 2 million
associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
Contacts:
Wal-Mart Stores, Inc.
Media Relations:
Randy Hargrove,
800-331-0085
or
Investor Relations:
Carol
Schumacher, 479-277-1498
Source: Wal-Mart Stores, Inc.
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