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Wal-Mart execs talk change at annual meeting
Fayettville, Ark. — Wal-Mart Stores president and CEO Doug McMillon told shareholders at the company’s annual meeting on Friday that the company would accelerate the pace of change going forward. Presiding over over his first shareholders’ meeting since being named chief executive, McMillon put a big emphasis on technology, saying that the chain needs to be “at the forefront of innovation and technology.”
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Wal-Mart names Greg Penner, Rob Walton’s son-in-law, as vice chairman
New York — Wal-Mart Stores named Greg Penner, 44, to the new role of vice chairman, a move that positions him to be a successor to chairman Rob Walton. Penner, 44, is Walton’s son-in-law and has served on the board since 2008. The appointment was announced Friday morning at the company's shareholders' meeting.
The move strengthens the Walton family’s control of the board. Walton, 69, is the son of Wal-Mart founder Sam Walton.