Walmart Board of Directors Adds Former AT&T Chairman and CEO Randall Stephenson
March 05 2021 - 4:43PM
Business Wire
Walmart Inc. (NYSE: WMT) today announced that its Board of
Directors has appointed Randall Stephenson, former Chairman and
Chief Executive Officer of AT&T Inc., as a new member of the
company’s board, effective March 3. Stephenson became the 12th
member of the board.
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Walmart appoints Randall Stephenson,
former Chairman and Chief Executive Officer of AT&T Inc., as a
new member of the company’s board of directors (Photo: Business
Wire)
“Randall’s experience as a global business leader and, in
particular, his leadership skills and insights in finance,
technology, retail and brand management will be a tremendous
benefit as we shape the next generation of retail,” said Walmart
Chairman of the Board Greg Penner. “We look forward to working with
him as we drive Walmart’s strategy forward and continue providing
effective governance for all our stakeholders.”
“I’m honored to be appointed to the board of Walmart,” said
Stephenson. “I’ve admired how the management team and Walmart
associates have continued to adapt and change to serve customers in
new and exciting ways while also serving communities during an
unprecedented health crisis. I look forward to joining my
colleagues on the board to further the company’s vision of becoming
the best omni-retailer in the world.”
Stephenson, 60, retired in January of 2021 as the Executive
Chairman of the Board of AT&T after a 38-year career with the
company that began in 1982 with Southwestern Bell Telephone. Prior
to that he was Chairman of the Board and Chief Executive Officer of
AT&T and served in that role from 2007 until July 2020, having
also served as President from 2007 through September 2019. Under
his leadership, Stephenson helped transform and reshape AT&T
from a global leader in mobile Internet services and IP-broadband
communications to a media and telecom conglomerate after its
acquisition of Time Warner in 2019.
In addition, Stephenson held a variety of high-level finance,
operational, and marketing positions with AT&T, including
serving as Chief Operating Officer from 2004 until his appointment
as Chief Executive Officer in 2007 and as Chief Financial Officer
from 2001 to 2004.
Stephenson holds a Master of Accountancy degree from the
University of Oklahoma and a Bachelor of Science degree in
Accounting from Central State University (now known as the
University of Central Oklahoma). He has served on the board of
directors of Boy Scouts of America since 2005, including as
chairman of the board from 2016 to 2018, and the PGA Tour since
2012. Stephenson was also chairman of the Business Roundtable from
2014 to 2016.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, approximately
220 million customers and members visit approximately 10,500 stores
and clubs under 48 banners in 24 countries and eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs over
2.2 million associates worldwide. Walmart continues to be a leader
in sustainability, corporate philanthropy and employment
opportunity. Additional information about Walmart can be found by
visiting corporate.walmart.com, on Facebook at facebook.com/walmart
and on Twitter at twitter.com/walmart.
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