Wal-Mart nominates former PepsiCo chief for board
Originally Posted on Monday, April 19, 2010
Reposted from Bloomberg Businessweek
Wal-Mart Stores Inc. said Monday that a former PepsiCo CEO has been nominated as a candidate for its board.
Steven S. Reinemund, 62, worked for PepsiCo Inc. for 23 years and was chairman and CEO from 2001 to 2006. He sits on the board at Exxon Mobil Corp., American Express Co. and Marriott International Inc.
Shareholders will vote on Reinemund's nomination June 4 during the company's annual meeting.
Wal-Mart also announced that current board member Allen Questrom, former CEO of J.C. Penney Company Inc. who joined the board in 2007, will not stand for re-election.
Shares of Wal-Mart, which is the world's largest retailer, rose 10 cents to $54.20 in midday trading.
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