BENTONVILLE, Ark. - Veteran finance executive Charles Holley was named to replace Tom Schoewe as CFO of Wal-Mart Stores Inc., the company announced late Wednesday. Holley joined Walmart in 1994 and most recently served as EVP finance and treasurer. Schoewe joined Walmart in 2000 as CFO.
Walmart CEO Mike Duke called Holley a talented strategist who thoroughly understands the details of Walmart’s business and the financial markets.
“As treasurer, he has helped drive the strategy behind the company’s strong financial position and has made every organization he has led stronger,” Duke said.
The change will take effect on Nov. 30, and Schoewe will remain with the company until Jan. 31, 2011.