Wal-Mart and Michaels swap executives, new presidents, CEO of Sam’s Club

Bentonville, Ark. Wal-Mart Stores has tapped former Michaels Stores CEO Brian Cornell to head up its Sam's Club business, while Michaels named former Wal-Mart executive John Menzer as its CEO.

Wal-Mart Stores said Monday that it appointed Brian Cornell as president and CEO of Sam’s Club, effective April 3. He replaces Doug McMillon, who was recently named president and CEO of Wal-Mart International.

Meanwhile, Menzer will fill Michaels Stores’ CEO post vacated by Cornell, effective by April 15. Menzer previously served as vice chairman and chief administrative officer for Wal-Mart Stores.