Wal-Mart Vice Chairman Coughlin leaving
December 6, 2004-- Home Textiles Today,
BENTONVILLE, Ark. — Thomas Coughlin, vice chairman of Wal-Mart Stores, Inc., will retire on Jan. 24, after over 25 years with the company.
Coughlin began his Wal-Mart career in 1978 in the company's security division, and was named vice chairman of Wal-Mart and elected to the Wal-Mart Board of Directors in April of 2003. Coughlin will serve out his remaining term on the Wal-Mart board through the company's annual shareholder meeting on June 3.
Coughlin's current responsibilities include the Wal-Mart stores, Sam's Club and Walmart.com businesses in the United States , and the following company divisions: logistics, real estate, store planning, global procurement, compliance, and the company's diversity office.
Upon Coughlin's retirement, his responsibilities will be assumed by the following people:
—The Wal-Mart Stores division in the United States will continue to report to Mike Duke, president and CEO of Wal-Mart Stores, USA .In addition, Duke will assume responsibility for the company's logistics division and the Wal-Mart Stores finance and compliance office. Duke will now report directly to Lee Scott.
— The Sam's Club division in the United States will now report directly to Scott. Kevin Turner is president and CEO of Sam's Club.
— The company's global procurement division, which coordinates Wal-Mart's direct buying programs in the United States and overseas, will now report to John Menzer, president and CEO of Wal-Mart's international business. Menzer reports to Scott.
— The company's real estate and store planning division will now report to Tom Hyde, executive vice president of Legal and Corporate Affairs. Hyde reports to Scott.
— The company's Walmart.com division will now report to Tom Schoewe, executive vice president of finance and chief financial officer for Wal-Mart Stores, Inc. Schoewe reports to Scott.
— Wal-Mart's newly established Diversity Office will report to Lawrence Jackson, who was hired recently as executive vice president of the company's People division. Jackson reports to Scott.
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