Walmart announces promotions in finance department

BENTONVILLE, Ark. Wal-Mart Stores announced that Jeff Davis has been promoted to SVP and treasurer, effective Dec. 1. In his new role, Davis will assume responsibility for treasury operations, capital markets, investor relations and risk management. Davis succeeds Charles Holley, who has been named to the position of EVP and CFO, also effective Dec. 1.

"Jeff has deep experience in a wide range of financial disciplines that will suit him well as treasurer for Walmart," said Holley. "He also has demonstrated a great understanding of our business and he's developed strong partnerships with our operating segment leaders."

Davis, currently SVP finance and strategy for Walmart U.S., joined Walmart in 2006 as VP finance for the Walmart U.S. health and wellness merchandise unit. Previously, he served as CFO for Lakeland Tours LLC, where he led its acquisition growth strategy and was responsible for all accounting, financial reporting treasury and capital structuring, and strategic planning functions.  Prior to that, Davis was CFO for McKesson General Medical and he held a number of financial leadership roles at the Hillman Co, a private investment holding company.  Davis also spent four years at KPMG Peat Marwick as an audit supervisor.