Walmart 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
By Sarah Nassauer Oct. 10, 2019 5:42 pm ET Walmart Inc. WMT 0.57% 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.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.
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.Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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