New Head for Wal-Mart Foundation

Bentonville, Ark., Wal-Mart Stores announced Tuesday that Margaret A. McKenna has been named the new president of the Wal-Mart Foundation and will be charged with taking the company's corporate giving to a greater level of impact and excellence.

McKenna joins Wal-Mart after a long career in the public and non-profit sectors, and having recently resigned as the president of Lesley University.

Wal-Mart last year gave more than $270 million to support its 4,000-plus U.S.-based communities and has been recognized by the Chronicle of Philanthropy as the largest cash contributor in America.