Wal-Mart Stores, Inc. today announced that its board of directors has nominated Steven S. Reinemund, former PepsiCo, Inc. chairman and chief executive officer, for election to the company’s board.
Current board member Allen Questrom will not stand for re-election.
"Steve was a valued partner to our business during his tenure at PepsiCo, and his domestic and international retail experience makes him an ideal candidate to join our board," said Wal-Mart Chairman Rob Walton. "He is a gifted strategist, with strong expertise in both finance and operations."
Reinemund, 62, is dean of business and professor of Leadership and Strategy at Wake Forest University in North Carolina. He spent 23 years at PepsiCo, including his tenure as chairman and CEO from 2001 to 2006. He served as the company’s president and chief operating officer, as well as chairman and CEO of its Frito-Lay division. Reinemund is a member of the board of directors of Exxon Mobil Corporation, American Express Company and Marriott International, Inc.
Wal-Mart also published its 2010 annual report. You can access the document at this link.