Walmart names Kathryn McLay to Sam's Club CEO role

Walmart Inc. announced in a Friday filing that Kathryn McLay will assume the role of Sam's Club chief executive, effective today. According to the filing, McLay's base salary will be $780,000, and she will be eligible for a cash incentive and other additional pay. She has served as executive vice president of Walmart U.S. Neighborhood Markets since February 2019. McLay succeeds John Furner, who was named chief executive of Walmart U.S. after Greg Foran's departure. Walmart stock is up 28.3% for the year to date while the Dow Jones Industrial Average has gained 19.6% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.