Walmart Appoints Brett Biggs New Chief Financial Officer

09 Oct 2015, 08:19 AM CDT

Charles Holley to retire as CFO Dec. 31, 2015 after serving the
company for over 20 years

BENTONVILLE, Ark.–(BUSINESS WIRE)–Wal-Mart Stores, Inc. (NYSE: WMT) today announced that Brett Biggs, 47,
will succeed Charles Holley, who has elected to retire as the company’s
chief financial officer. The change will be effective Dec. 31, 2015, and
Holley will stay on until Jan. 31, 2016, to help with the transition.
Holley, 59, has served as Walmart’s executive vice president and chief
financial officer since December 2010.

“Brett is a strong leader whose broad experience uniquely qualifies him
to lead our finance and strategy areas,” said Walmart President and
Chief Executive Officer Doug McMillon. “Having had a variety of
important roles in all three of Walmart’s business segments, Brett is
well prepared. He thoroughly understands Walmart’s operations, how we
intend to compete in a dynamic and changing retail environment and how
we can best serve customers, associates and shareholders.”

McMillon continued: “Charles has overseen our global finance and
strategy areas during a period of immense company growth and change. He
has been instrumental in shaping Walmart’s strong financial position
while driving significant shareholder returns. One of Charles’ strengths
is also talent development and succession planning. Under his
leadership, Walmart’s finance function has transformed into a best in
class organization that is both strong and deep, highlighted by today’s
appointment of Brett as our new CFO.”

Biggs will report to McMillon. Since January 2014, Biggs has served as
executive vice president and chief financial officer of Walmart
International, where he is responsible for international strategy and
finance activities, including business planning and analysis, financial
services, and support for real estate and mergers and acquisitions.

Prior to his current role, Biggs served as chief financial officer of
Walmart U.S. from January 2012 until January 2014, and as senior vice
president, Sam’s Club Operations, from September 2010 until January
2012. Previously, he served in a variety of roles since joining the
company in 2000, including senior vice president and chief financial
officer of Sam’s Club, senior vice president corporate finance and
assistant treasurer, and senior vice president, international strategy
and mergers and acquisitions. Before Walmart, Biggs worked at Leggett &
Platt, Incorporated on its mergers and acquisitions team. Prior to that,
he was an accountant at Phillips Petroleum Company, now ConocoPhillips,
and an auditor at Pricewaterhouse LLP, now PricewaterhouseCoopers LLP.
Biggs is a certified public accountant.

Holley joined Walmart in 1994 and in his role as CFO held responsibility
for accounting and controls, corporate strategy and development,
business planning and analysis, internal auditing, treasury, tax and
investor relations. He also held roles as executive vice president,
finance and treasurer; chief risk officer; senior vice president of
finance over accounting, tax, financial reporting and investor
relations; Controller; and several roles in Walmart International,
including CFO. Before Walmart, Holley worked for Tandy Corporation (now
Radio Shack) as managing director for its European Memorex division and
served as director of finance for its international operations.

About Walmart

Wal-Mart Stores, 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, we serve nearly 260 million
customers who visit our 11,532 stores under 65 banners in 28 countries
and e-commerce websites in 11 countries. With fiscal year 2015 revenue
of $486 billion, Walmart employs more than 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 http://corporate.walmart.com
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
Online merchandise sales are available at http://www.walmart.com
and http://www.samsclub.com.