Wal-Mart Competition

Monday, October 3, 2005
7:49:00 AM EDT
BENTONVILLE, Ark., Sept. 30 /PRNewswire-FirstCall/ -- Wal-Mart Stores,
Inc. (NYSE: WMT) today announced that Jim Walton, chairman and chief executive
officer of Arvest Bank Group, has been appointed to the Board of Directors of
Wal-Mart Stores, Inc.  Walton, 57, was appointed Sept. 29, 2005, at the
Wal-Mart Board of Directors meeting.
    Walton, the youngest son of Sam Walton, late founder of Wal-Mart Stores,
Inc., fills the vacancy of his older brother, John Walton, who died in an
aircraft accident earlier this year.  John Walton had served on the Board
since 1992.
    Walton will continue to serve in his role as chairman and CEO of Arvest, a
group of banks operating in 91 communities in the states of Arkansas, Oklahoma
and Missouri.  Founded in 1976 and based in Bentonville, Ark., Arvest has
total assets of $7.5 billion.
    In addition to his Arvest responsibilities, Walton also serves as chairman
of Bentonville-based Community Publishers, Inc. which operates newspapers in
Arkansas and Missouri.  He is also a trustee of the Walton Family Foundation,
Inc.
    "Our family remains committed to the ongoing growth and improvement of
Wal-Mart, and to representing the interests of all shareholders," said Rob
Walton, chairman of Wal-Mart Stores, Inc.  "Jim brings broad business
experience and perspective to our board, and also brings a deep appreciation
for the Wal-Mart culture and the importance of sustaining that culture
throughout the company."
    Walton attended the University of Arkansas in Fayetteville and graduated
with a marketing degree in 1971.  Upon graduation, he joined Wal-Mart and
worked for four years in the company's real estate area.  He left Wal-Mart in
1975 to join the Walton's diversified family business, Walton Enterprises.


Written by mbergdahl Blog about this entry |  Add to del.icio.us |  digg this

This entry has 0 comments: (Add your own)