Walmart adds former AT&T chairman to board of directors

Walmart has added Randall Stephenson to its board of directors effective March 5, according to a filing with the U.S. Securities & Exchange Commission late Friday. Stephenson will become the 12th member on the board.

“Randall’s experience as a global business leader and, in particular, his leadership skills and insights in finance, technology, retail and brand management will be a tremendous benefit as we shape the next generation of retail,” said Walmart Board Chairman Greg Penner.

Stephenson, 60, retired in January 2021 as executive board chairman of AT&T after a 38-year career with the company that began in 1982 with Southwestern Bell Telephone. Prior to that he was chairman of the board and CEO of AT&T and served in that role from 2007 until July 2020, having also served as president from 2007 through September 2019.

“I’m honored to be appointed to the board of Walmart,” said Stephenson. “I’ve admired how the management team and Walmart associates have continued to adapt and change to serve customers in new and exciting ways while also serving communities during an unprecedented health crisis. I look forward to joining my colleagues on the board to further the company’s vision of becoming the best omni-retailer in the world.”

Stephenson holds a master’s degree in accountancy from the University of Oklahoma and a bachelor’s degree in accounting from Central State University (now known as the University of Central Oklahoma). He has served on the board of directors of Boy Scouts of America since 2005, including chairman of the board from 2016 to 2018, and the PGA Tour since 2012. Stephenson was also chairman of the Business Roundtable from 2014 to 2016.