BENTONVILLE, Ark., Nov. 20 /PRNewswire/ -- Wal-Mart Stores, Inc.
(NYSE: WMT) announced today the promotion of John Fleming, Walmart.com's
senior vice president of merchandising, to chief operating officer of
Walmart.com. Fleming, 43, will succeed Jeanne Jackson, Walmart.com's chief
executive, who announced she will leave the company after the 2001 holiday
"We appreciate the leadership and direction that Jeanne has provided these
past 20 months," said Lee Scott, president and chief executive officer of
Wal-Mart Stores, Inc. "She leaves an important legacy, an excellent
management team that will drive improvement and growth in our business, both
online and offline, for years to come.
"We will continue to approach the Walmart.com business as a long-term,
strategic initiative," Scott said. "Our focus areas remain tighter
integration of our online program with our stores, developing additional
services under the trusted Wal-Mart name that we can offer online, and
continued development of our online shopping site."
Jackson, 50, said she has no immediate plans to join another company.
Jackson joined Walmart.com in April 2000 in Palo Alto, California. At the
time, Walmart.com was an independent company operating as a joint venture
between Wal-Mart Stores, Inc. and Accel Partners, a leading venture capital
firm in California's Silicon Valley. Earlier this year, Wal-Mart and Accel
Partners announced that Wal-Mart was acquiring all the minority interest in
Walmart.com in order to establish the deepest integration possible between its
online and offline programs.
"There's no question that being able to start from scratch and build a
team here at Walmart.com has been an extraordinary opportunity. I am
extremely proud of the talent we've assembled and the assets we've created.
At the same time, in light of the buyout, it has become clearer and clearer to
me that something with broader scope is more appropriate for me at this stage
in my career, " said Jackson.
Like Jackson, Fleming will report to Tom Schoewe, executive vice president
and chief financial officer for Wal-Mart Stores, Inc.
Fleming, who joined Walmart.com last year, was previously senior vice
president of merchandising for the department store division of Target
Corporation, reporting directly to the company president. During his 19 years
with the retailer, Fleming held various retail and merchandising positions,
including vice president and general merchandise over apparel, divisional
merchandise manager for sportswear, and senior buyer.
With annual sales of $191 billion, Wal-Mart Stores, Inc.
(www.walmartstores.com ) operates more than 2,600 discount stores,
Supercenters and Neighborhood Markets, and more than 480 SAM'S CLUBS in the
United States. Internationally, the company operates more than 1,080 units.
Wal-Mart employs 962,000 associates in the United States and 282,000 in other
countries. The company's securities are listed on the New York and Pacific
stock exchanges under the symbol WMT. Last year Wal-Mart associates raised
and contributed more than $190 million to support communities and local
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SOURCE Wal-Mart Stores, Inc.