BENTONVILLE, AR – As Sam’s Club’s current CEO prepares to retire less than a month from now, Walmart has just announced who will take the helm of its giant subsidiary. John Furner will replace Rosalind Brewer as Chief Executive Officer of the warehouse chain.
Furner currently holds a position as Sam’s Club’s Executive Vice President and Chief Merchandising Officer, titles that he has held since October of 2015. In addition to these executive roles, Furner also spent two years as Chief Merchandise and Marketing Officer for Walmart China, according to the Wall Street Journal.
"In John, we see someone who loves the company and our associates, has learned the business from the bottom up and across, and has the desire to lead change which is so necessary in today's environment," Walmart's Chief Executive Doug McMillon said in an internal memo, according to Reuters.
Walmart announced this past Friday that Sam’s Club outgoing CEO, Brewer, would be retiring from the company after five years in the role, and 11 years with Walmart. In her time with the company, Brewer focused on attracting wealthier shoppers to the chain, to distinguish the wholesaler from its competition.
"She’s leaving Sam’s with momentum," said McMillon, according to Fortune. "Roz [Brewer] and the team have developed a strategy that’s led to three consecutive quarters of improving comp sales and some exciting innovation."
Reuters reported that Brewer is leaving the company to take on a “new challenge,” according to the memo.
Brewer will vacate her appointment as CEO on February 1, 2017, leaving the role to Furner. Furner has worked within the Walmart branches of companies since first joining as an hourly associate in 1993.
What will this executive shakeup bring? AndNowUKnow will keep you updated as buy-side strategies and effects unfold.
