Walmart is playing not to lose
And it’s probably the right move.
Walmart announced what sounds like an orderly CEO transition for its US business this week:
- Greg Foran, who has presided over its comeback over the past five years, is leaving in January to become the CEO of Air New Zealand — which, frankly, yes, that sounds fun, especially if you’re from New Zealand, as Foran is.
- Walmart’s new US CEO will be John Furner, who started with the company as an hourly employee in his late teens in 1993, was most recently the CEO of Sam’s Club, and has worked in a variety of executive roles at the company, including chief merchandising and marketing officer of Walmart China.
Who wasn’t named CEO: Marc Lore, the company’s US e-commerce CEO, whose startup, Jet.com, Walmart paid $3.3 billion for in 2016.
The New Consumer Executive Briefing is exclusive to members — join now to unlock this 1,200-word post and the entire archive. Subscribers should sign in here to continue reading.
Hi, I’m Dan Frommer and this is The New Consumer, a publication about how and why people spend their time and money.
I’m a longtime tech and business journalist, and I’m excited to focus my attention on how technology continues to profoundly change how things are created, experienced, bought, and sold. The New Consumer is supported entirely by your membership — join now to receive my reporting, analysis, and commentary directly in your inbox, via my twice-weekly, member-exclusive newsletter. Thanks in advance.