Walmart was founded by Sam Walton in 1969. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. This global operation is headquartered in Bentonville, Arkansas, and it had annual revenue of $514.4 billion between 2018 and 2019. To run such a large company successfully, it is vital that there is strong leadership in place. Walmart has an experienced board of directors in place who play an important role in ensuring that the company is run with integrity and accountability. Here is your chance to meet the Walmart board of directors and to learn more about these 12 professionals.
Gregory B. Penner
Greg Penner is currently the Chairman of Walmart, and he is only the third person to do so. The others were Penner’s father-in-law Rob Walton and Walmart’s founder Sam Walton. He has worked with Walmart in a variety of capacities for two decades. However, he did not join the board of directors until 2008. Since then, he served on the committee for global compensation and the executive committee. He then became chairman in 2015. Penner is the founder and general partner of the investment management firm Madrone Capital. Prior to working at Madrone Capital and Walmart, Penner was a financial analyst at Goldman Sachs & Co., and he has served on the board of directors at several large companies. He has a bachelor’s degree in international economics and an MBA. Penner is married to Carrie Walton Penner, the daughter of Rob Walton, and the couple has four children together. The family lives in Atherton, California.
Doug McMillon began working for Walmart in 1984 when he was a teenager. He took some time out to complete his degree and MBA before returning. After gaining a little experience in the company, he became a buyer before working in several management positions. Between 2005 and 2009, he led the Sam’s Club division of the company. He then led Walmart International between 2009 and 2013. In 2014, he became the fifth chief executive officer of Walmart. He is also now the president of the company. McMillon has served on the board of directors since 2013, and he is the chairman of both the executive committee and the global compensation committee. Further to his work at Walmart, McMillon is also on the board of directors for the Crystal Bridges Museum of American Art, the U.S.-China Business Council, and the Consumer Goods Forum. He is married to Shelley McMillion, and the couple has two children together. The family lives in Bentonville, Arkansas.
Cesar Conde is the newest addition to Walmart’s board of directors as he only joined in 2019. He is the Chairman of NBCUniversal Telemundo Enterprises and NBCUniversal International Group. He first joined NBC International Group in 2013 when he held the position of Executive Vice President. This meant he had the responsibility of overseeing NBCU International and NBCU Digital Enterprises. He became Chairman in 2015, and he is now responsible for the operations and international expansions of the company outside North America. At Telemundo Enterprises, he is responsible for the media properties that serve Hispanic people. Before he joined NBCUniversal, he served Univision Networks for 10 years in a variety of senior executive position, including President of the company. Cesar Conde also previously worked at StarMedia Network and as White House Fellow for Secretary of State. Currently, Conde is a trustee of both the Paley Center for Music and for Aspen Institute. He is also a Young Global Leader for the World Economic Forum, a Full Member at the Council on Foreign Relations, and he serves on the Board of Directors of PepsiCo. Conde has been married to Pamela Silva Conde, a Univision news anchor, since 2009.
Stephen J. Easterbrook
Stephen J. Easterbrook joined the Board of Directors at Walmart in 2018, and he serves on the committees for compensation and management development, finance, and strategic planning. Outside of Walmart, he is the president, chief executive officer, and on the board of directors for McDonald’s Corporation. He has held these positions since 2015, and he had worked in various senior positions for the company prior to this appointment. He had joined McDonald’s in 1993 and worked in many positions before reaching a senior level. Easterbrook has also served as the CEO of PizzaExpress and the CEO of Wagamama. Outside of Walmart and McDonald’s, Easterbrook is a chartered accountant who serves Oxford University as a visiting fellow. He is also on the board of trustees for McDonald House Charities and on the board of directors of the global non-profit organization Catalyst Inc. Easterbrook is married with three children.
Timothy P. Flynn
On the board of directors since 2012, Timothy P. Flynn serves on the technology and eCommerce committee and is the chairman of the audit committee. He has been retired since 2011, and prior to this, he was the chairman of KPMG International for four years. Between 2005 and 2008, he was the chief executive officer of KPMG LLP and he was the chairman of this company from 2005 to 2010. He is currently on the board of trustees for the University St. Thomas in St. Paul, Minnesota. He is also on the board of directors for JP Morgan Chase & Co. and UnitedHealth Group. In the past, he was on the board of directors for Chubb Corporation. Flynn has also previously been a member of the World Economic Forum International Business Council.
Sarah Friar is the Chief Executive Officer of the San Francisco-based company Nextdoor and is the co-launcher of Ladies Who Launch. In her past professional history, she has been the Chief Financial Officer of Square, the Senior Vice President of Finance and Strategy at Salesforce, the Managing Director at Goldman Sachs, and a business analyst for McKinsey & Company. Sarah Friar joined Walmart’s Board of Directors in early 2018. She is also on the Board of Directors of Slack. In the past, she has been on the Board of Directors of New Relic, Inc. Friar has a Meng from the University of Oxford and an MBA from Stanford University Graduate School of Business.
Carla A. Harris
Since joining the board of directors in 2017, Carla A. Harris has served on the committees for nominating and governance, planning and finance, and compensation and management development. She currently works for Morgan Stanley, a company that she joined in 1987 when she worked in the mergers and acquisitions team. Harris worked in many positions during her time with this company, including equity capital markets, investment banking, initial public offerings, and equity private placements. She was appointed as the managing director and senior client advisor in 2012 and was then promoted to vice president of wealth management and head of multicultural strategy the following year. Harris is on the board of directors for several non-profit organizations, including the Morgan Stanley Foundation and St. Vincent’s Health Care. President Barack Obama appointed her as the chair of the National Women’s Business Council in 2013.
Tom Horton has a bachelor’s degree in accounting and an MBA. Since 2008, he has been the director of Qualcomm Incorporated. He is currently a senior advisor in the Industrial and Business Services Group of Warburg Pincus, LLC. This is a growth investing private equity firm. Prior to this, he worked for American Airlines. He was named the president of the company in 2010 and then served as the chairman, president, and chief executive officer for both American Airlines and AMR Corporation between 2011 and 2013. Horton was then the chairman of the American Airlines Group, Inc. until 2014. He joined the board of directors of Walmart in 2014. He serves on the executive committee and on the committee for strategic planning and finance. Horton is also the chairman of the nominating and governance committee.
Marissa A. Mayer
According to Forbes, Marissa A. Mayer was the first female engineer at Google, and her 13 years working for the company are the main reason that she now has an estimated net worth of $620 million. She is also ranked 35th on their list of the richest self-made women. Between 2012 and 2017, she was the Chief Executive Officer and President of Yahoo, Inc. In 2018, she co-founded Lumi Labs. Mayer has been on the board of directors for Walmart since 2012 and serves on the compensation and management development committee and the technology and eCommerce committee. She has served on the board of directors for the San Francisco Museum of Modern Art, Stanford Children’s Hospital, the San Francisco Ballet, and AliphCom, which operates as Jawbone. Furthermore, she is also on the foundation board for the Forum of Young Global Leaders at the World Economic Forum.
Steven S. Reinemund
Between 2001 and 2006, Reinemund was the CEO and chairman of PepsiCo, a company for which he worked for 23 years. He was then the dean of the Schools of Business at Wake Forest University from 2008 to 2014. Earlier in his career, Reinemund was the chairman and CEO of Frito-Lay’s worldwide operations. This was a position that he held from 1996 to 1999. Since 2007, he has served as a director for Marriott International, Inc. and for Exxon Mobil Corporation. In the past, he has also served as a director for Chick-fil-A, Inc., Johnson & Johnson, and American Express. Furthermore, he is a member of the board of trustees for the United States Naval Academy Foundation and for The Cooper Institute. Steven S. Reinemund joined Walmart’s board of directors in 2010, and he serves on the committees for compensation and management development, technology and eCommerce, and nominating and governance. He is married to Gail T. Reinemund and the couple has four children together. The family lives in Denver, Colorado.
S. Robson ‘Rob’ Walton
Rob Walton (https://corporate.walmart.com/our-story/leadership/board-of-directors/rob-walton/) is the son of Walmart’s founder, Sam Walton. Prior to joining Walmart, Rob Walton was a partner in Oklahoma-based law firm Conner & Winters. He joined the company in 1969, and worked in a variety of positions, including corporate secretary, general counsel, vice president, and vice chairman. He joined the Board of Directors in 1978 and served on several of Walmart’s committees, including finance, executive, strategic planning, and global compensation. In 1992, he was promoted to Chairman of the Board, a position he held until he retired in 2015. However, he has remained on the Board of Directors. In addition to his work at Walmart, Walton is also involved with several educational and non-profit organizations. These include holding the positions of chairman of the executive committee for Conservation International and Emeritus Life Trustee for the College of Wooster.
Steuart Walton is the grandson of Walmart founder Sam Walton. His parents are Lynne McNab and Jim Walton, who was a former director for Walmart. He has a law degree from Georgetown. At the beginning of his career, Steuart Walton worked for Peter Fitzgerald, a Republican Senator. He then for two law firms before joining the family company to work in the mergers and acquisitions division. Walton also worked in the Walmart company office in Carnaby Street, London. Walton, who is also a pilot, left the family business in 2013 so that he could found his own company, Game Composites. He also co-founded the investment company RZC Investments along with his brother Tom Walton. Despite no longer working in the day-to-day operations of Walmart, he has served on the board of directors since 2016. He is currently the chairman of the technology and eCommerce committee. Steuart Walton also serves on the board of directors for Rapha Racing Limited, Crystal Bridges Museum of American Art, Leadership for Education Equity, and the Smithsonian National Air and Space Museum.
Written by Liz Flynn
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