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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.
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Men's Wearhouse delivers better-than-expect results in Q1
The Men's Wearhouse expects to complete its merger with Jos. A. Bank in the next few weeks, and looks forward to reaping the benefits of that combination as it closes its fiscal first quarter ended May 3.
Total net sales for quarter increased 2.3% to $630.5 million from $616.5 million in the prior-year quarter. Retail segment sales for the quarter increased by 2.4% and corporate apparel sales increased by 0.8% as compared to the prior year quarter.