Wal-Mart Alters Board

By Staff -- Home Textiles Today, 5/5/2008 12:00:00 AM

Bentonville, Ark. —

Wal-Mart Stores has nominated two new director candidates to replace two current directors who will not stand for re-election at the June 6 annual meeting.

Jack Shewmaker and Roland Hernandez will be stepping down.

Nominated are Gregory Penner, a general partner at the investment management firm Madrone Capital Partners, and who served as Wal-Mart Japan svp and cfo from 2002 to 2005; and Arne Sorenson, evp and cfo of Marriott International.

"I wish to express our thanks to Jack Shewmaker and Roland Hernandez for their many years of service to our company and our board," said Rob Walton, chairman of the board. "Jack has served our board since 1977, and Roland has been with the board for 10 years. We are grateful for their leadership and counsel during their tenure as directors, and the company will benefit from their contributions for years to come."