Walmart's U.S. Stores Chief to Quit Retailer

By Sarah Nassauer 

Walmart Inc. said the executive in charge of its U.S. stores, Greg Foran, is leaving the company and will be replaced by the head of its Sam's Club warehouse chain.

Mr. Foran, a native of New Zealand, is taking over as chief executive officer of Air New Zealand Ltd. He will stay at Walmart through Jan. 31. He will be replaced by John Furner, 45 years old, who has been running the Sam's Club warehouse chain since 2017.

Mr. Foran took over Walmart's biggest division in 2014 and led a turnaround in the U.S. by pulling back on new-store openings and investing to improve existing stores. He clashed with the head of Walmart's U.S. e-commerce operations, Marc Lore, over spending and strategy, according to people familiar with the matter.

Neither Messrs. Foran nor Lore immediately returned requests for comment.

Mr. Foran is known as a demanding, detail-oriented boss who worked long hours and often took other executives with him on a company plane on Saturdays to visit stores. He has focused on reducing the inventory in stores and more consistently stocking shelves to boost sales, improving customer service, as well as cutting spending on store labor to invest in such new projects as online grocery delivery.

Walmart has posted four years of strong sales gains as the retail company captured market share from struggling competitors and expanded online. In August, the company raised its forecasts for U.S. comparable sales for the full year. Its shares are trading near all-time highs.

Write to Sarah Nassauer at [e-mail]

(END) Dow Jones Newswires

October 10, 2019 17:57 ET (21:57 GMT)

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