Walton Family Foundation executive director to step down in December

Stephanie Cornell, executive director of the Walton Family Foundation, said she will step down at the end of this year after more than two years in the role.

On Thursday (Aug. 21), Cornell released a letter about her decision to step down. She said the decision to step down was a personal one and that she wants to spend more time with her family.

“While this is a bittersweet moment, I believe transitions can be healthy,” she wrote. “The foundation is strong, with capable leaders, and poised to conclude an ambitious five-year strategy with lessons learned that will deepen the impact of its future work.”

Cornell was named executive director in July 2023. She replaced Caryl Stern, who resigned in fall 2022. Cornell was the managing director of the Draper Richards Kaplan Foundation, where she had worked since 2014. Before that, Cornell co-founded three social ventures: Strategic Grant Partners, Project Healthy Children (now Sanku) and the Maranyundo Initiative.

The Walton Family Foundation was created in 1987 and is led by the family of Walmart Inc. founders Sam and Helen Walton. Annie Proietti, one of their granddaughters, is the board chair. The Walton’s youngest son, Jim Walton, is Proietti’s father.

Cornell said she plans to remain executive director through December to “ensure a smooth transition.”

“I am deeply grateful to the Walton family for entrusting me with this role, and to our staff, partners and communities who turn bold ideas into lasting change,” she wrote. “When I joined in 2023, I was drawn by the foundation’s enduring commitment to creating access to opportunity and fostering collaboration. I’ve experienced how that vision is being carried forward every day as our team and partners have achieved so much together in the past few years.”

This includes initiatives that have supported the expansion of businesses and startups in Northwest Arkansas, as well as improved access to housing options. In the Delta, the foundation has worked with partners to “create new career pathways, encourage homeownership and strengthen small businesses.”

The foundation’s environmental work has supported efforts “to protect water resources and expand the adoption of climate-smart agricultural practices,” according to Cornell’s letter. An increasing number of partners are “strengthening fisheries management and water stewardship.”

“Leaders, educators and students have worked together to create more effective and engaging learning experiences,” she wrote. “Students now have access to new schools, career pathways and stronger literacy and tutoring programs.”

She attributed the accomplishments to the teams and partners “dedicated to making a difference, from program officers to community leaders and grantees who put their trust in us.”

“The successes of my tenure stem from the passion, creativity and commitment of our people,” Cornell wrote. “This work will continue because of the Walton family’s leadership and the dedication and skill everyone brings to it daily.”

The foundation has offices in Bentonville, Washington, D.C., Jersey City, N.J., and Denver, with approximately 110 staff.