Sam’s Club boss to take over as Walmart CEO
Sam’s Club president and CEO John Furner (pictured) has been appointed president and CEO of Walmart US, effective November 1, taking over from Greg Foran, who is leaving the company.
Foran, who has been chief executive of Walmart US since 2014, is joining Air New Zealand as CEO. He is expected to stay on at Walmart through January 31 to help with the transition.
His departure is likely to be considered a blow for Walmart given the New Zealand native is credited with turning around its US business. Walmart reported 20 quarters of comparable sales growth under his leadership, Reuters reports.
A new president and CEO of Sam’s Club will be announced at a later date, the company said.
Furner has run the $57.8 billion Sam’s Club business since 2017. Over that time, he has improved the unit’s performance with higher comparable sales by pushing the retailer to innovate, shutting stores and repurposing stores as distribution hubs.
The company has said that he started his career at Walmart as an hourly associate in 1993, working his way up the ranks as a store manager, district manager and buyer. He has held leadership roles in operations, merchandising and sourcing in Walmart US, Sam’s Club and Walmart International, where he served at Walmart China as chief merchandising and marketing officer.
In his new role, Furner will partner with Walmart US e-commerce CEO Marc Lore “to help create a seamless omnichannel experience for customers”, Walmart said.
[We might have to attribute this image to Jerry Holt – Star Tribune, from here]
[Otherwise there is this one, which is also from the Star Tribune]
Target ace ready to rescue Bed Bath and Beyond
US homewares chain Bed Bath and Beyond has hired Target’s Mark Tritton (pictured) as CEO, months after its longtime head, Steven Temares, left the company under pressure from activist investors.
Investors liked the new leadership for the housewares chain, sending its shares up 23 per cent to more than $12 after the announcement. Tritton, who is now chief merchandising officer at Target, will take up his new position in early November, ahead of the Christmas shopping season.
At Target, which he joined in 2016, Tritton was responsible for store revamps, private-label brands, product sourcing and design. He has 30 years of experience in the industry, also playing a major role in doubling sales of department store chain Nordstrom’s private-label business.
Bed Bath and Beyond has been struggling in recent years, reporting falling sales in eight of the past 14 quarters, results that led a group of investors to oppose Temares’ leadership.
Tritton’s focus in his new position will be to enhance store and online experience and improve its product offerings, the company said.
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