Former Wal-Mart CEO named operating partner at private equity firm

LEXINGTON, Mass. Lee Scott, former Wal-Mart CEO, has joined the private equity firm Solamere Capital as an operating partner and as a member of its investment committee.

According to a statement from Solamere, Scott will assist Solamere Capital in the evaluation of investment opportunities and will play a key role in contributing to the growth of its portfolio companies.

"I am excited to be working with Solamere’s management team and founding investors," said Lee Scott. "I believe that Solamere Capital and its network of partners are uniquely positioned to help a broad range of businesses add top-line growth. I am encouraged about Solamere’s distinctive approach to private equity and I am looking forward to being a part of the long-term development of this firm."