Walmart's U.S. Stores Chief to Quit Retailer
11 October 2019 - 09:12AM
Dow Jones News
By Sarah Nassauer
Walmart Inc. said the executive in charge of its U.S. stores,
Greg Foran, is leaving the company and will be replaced by the head
of its Sam's Club warehouse chain.
Mr. Foran, a native of New Zealand, is taking over as chief
executive officer of Air New Zealand Ltd. He will stay at Walmart
through Jan. 31. He will be replaced by John Furner, 45 years old,
who has been running the Sam's Club warehouse chain since 2017.
Mr. Foran took over Walmart's biggest division in 2014 and led a
turnaround in the U.S. by pulling back on new-store openings and
investing to improve existing stores. He clashed with the head of
Walmart's U.S. e-commerce operations, Marc Lore, over spending and
strategy, according to people familiar with the matter.
Neither Messrs. Foran nor Lore immediately returned requests for
comment.
Mr. Foran is known as a demanding, detail-oriented boss who
worked long hours and often took other executives with him on a
company plane on Saturdays to visit stores. He has focused on
reducing the inventory in stores and more consistently stocking
shelves to boost sales, improving customer service, as well as
cutting spending on store labor to invest in such new projects as
online grocery delivery.
Walmart has posted four years of strong sales gains as the
retail company captured market share from struggling competitors
and expanded online. In August, the company raised its forecasts
for U.S. comparable sales for the full year. Its shares are trading
near all-time highs.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
(END) Dow Jones Newswires
October 10, 2019 17:57 ET (21:57 GMT)
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