Two top-level Walmart officials are stepping down in what represents significant organizational changes happening under CEO John Furner, according to reports from May 22.
Tom Ward, who serves as COO of the warehouse chain Sam’s Club, will be retiring from his position by month’s end. Meanwhile, Cedric Clark, who oversees store operations for the retailer’s U.S. business, is also exiting, though his departure has not received an official announcement.
The Wall Street Journal broke this story on Friday.
These executive departures come one day after the retail giant restated its cautious yearly sales and earnings projections.
The company had previously disclosed multiple leadership transitions earlier this year when CEO John Furner assumed control in February, taking over from Doug McMillon.
