Wal-Mart Names Greg Penner Vice Chairman

By Dow Jones Business News, 
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Wal-Mart Stores Inc. ( WMT ) on Friday said its board has appointed Greg Penner as vice chairman of the retail giant, while Rob Walton remains chairman.

In the new non-management role, Mr. Penner--who is Mr. Walton's son-in-law--will serve as chairman when Mr. Walton isn't present, the company said.

Mr. Penner, 44, has been a Wal-Mart board member since 2008 and chairs the technology and e-commerce committee, in addition to serving on the board's global compensation and strategic planning and finance committees, Wal-Mart said.

Prior to his time on the company's board, Mr. Penner was Wal-Mart's senior vice president and chief financial officer for Japan from 2002 to 2005, and he has also been the senior vice president of finance and strategy for Walmart.com, the company said.

Bentonville, Ark.-based Wal-Mart has suffered weaker store traffic in recent periods--as dollar stores and online marketplaces have cut into its business--prompting the retailer in February to offer soft guidance for the year and warn of continued economic pressure.

Last month, the company reported its fifth straight decline in U.S. sales, stoking concerns among investors that the world's largest retailer may be losing its way.

Shares have edged up five cents to $77.37 in recent trading.

Write to Anna Prior at anna.prior@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  06-06-141015ET
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