Cornell named CEO of Sam's Club

BENTONVILLE, Ark. Wal-Mart Stores has named Brian Cornell will become president and CEO of its Sam's Club division, effective April 3. Cornell replaces Doug McMillon, who became president and CEO of Wal-Mart International on Feb. 1, and will report to Mike Duke, president and CEO of Wal-Mart Stores.

"In searching for our new Sam's Club CEO, we wanted a leader who is strong, talented and people-oriented," said Duke. "We also wanted someone with broad experience in retail management, food merchandising and consumer product marketing. Above all, we looked for a leader who would live up to our brand and our culture. We found all of these things in Brian."

Cornell most recently served as CEO of Michael's Stores. Prior to that, he was EVP and chief marketing officer for Safeway, where he was responsible for the company's marketing, merchandising and distribution operations, as well as its online home delivery business.