Wal-Mart vice chairman to step down


7 December 2004 – Bentonville (AK): Wal-Mart’s vice chairman Tom Coughlin is to retire next year after 26 years with the company.

Coughlin, 55, was promoted to vice chairman and elected to the Wal-Mart board in April 2003. He currently overseas all US stores, as well as other divisions such as Sam’s Club and Walmart.com.

Jay Allen, SVP of corporate affairs, said: "He has been instrumental in developing a senior management team that is ready to step up. Tom worked harder than most and he felt he was at a point where he could step back."

Coughlin will step down from his executive position, which will be assumed by current senior managers, on 24 January, and will continue to sit on the board until 3 June, when his term expires.