Menzer Considered in Stable Condition
by May 27, 2012 11:06 pm 376 views
John B. Menzer, the CEO of Michaels Stores Inc. who retired from Wal-Mart Stores Inc. in 2008, suffered a stroke in late April.
The former vice chairman and chief administrative officer at Wal-Mart came out of retirement in 2009 to take the top spot at Irving, Texas-based Michaels.
Menzer, 61, was hospitalized April 20, two days before the New York Times published an article alleging that Wal-Mart executives, including Menzer, learned in 2005 that employees in its Mexico division bribed government officials.
The article said Menzer intervened in an internal investigation into a senior vice president who reported to him.
Michaels, which initially only disclosed that Menzer had been hospitalized for a medical condition, said in a May 16 news release that he had had a stroke, was in stable condition and would be on medical leave “for an extended period of time.”