BENTONVILLE, Ark.-Walmart’s board of directors has appointed Greg Penner vice chairman of the board, a newly created, non-executive position.
Penner, general partner of investment management firm Madrone Capital Partners, has served on Walmart’s board since 2008. Prior to joining Madrone, he served as Walmart’s senior vice president and chief financial officer for Japan, and senior vice president of finance and strategy for walmart.com. He is also the son-in-law of Walmart Chairman Rob Walton.
In Walmart’s statement about the appointment, Walton said, “One of the board’s most important responsibilities is long-term succession planning, and the company spends considerable time planning for stability and continuity, both at the board and management level. Walmart has benefited from (Penner’s) broad expertise in strategic planning, finance and investment matters.”
On Walmart’s board, Penner is chair of the technology and e-commerce committee and serves on the global compensation and strategic planning and finance committees.