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Rosalind ‘Roz’ Brewer, president and chief executive officer of Sam’s Club, speaks during the Wal-Mart Stores Inc. annual shareholders meeting in Fayetteville, Arkansas.
Wal-Mart Stores said Rosalind Brewer, the chief executive of its warehouse club stores Sam’s Club, would be retiring from the company effective Feb. 1, and would be replaced by John Furner.
The world’s biggest retailer’s shares were down 1.3 percent in early trading on Friday and was the top percentage loser among Dow-listed stocks.
Brewer served as executive vice president, president and chief executive of Sam’s Club segment since February 2012.
Furner, currently the chief merchandising officer at Sam’s Club, is a company veteran having joined Wal-Mart in 1993.
Prior to his current role, Furner, 42 served in various capacities, including being the chief merchandising officer of Walmart China.
Sam’s Club, the smallest of Wal-Mart’s three business units, operates membership-only warehouse clubs in 48 states in the United States and in Puerto Rico. The business accounted for about 12 percent of the company’s fiscal 2016 net sales.