Wal-Mart Taps New CFO

Wal-Mart will promote treasurer and executive vice president Charles Holley to chief financial officer after current CFO Tom Schoewe steps down from the position on Nov. 30. Schoewe will remain at the company through the end of January to assist with the transition.

This is the latest move in a series of upper-management changes at the discount retail chain. Bill Simon took over the title of president of U.S. operations from Eduardo Castro-Wright in June, and after chief merchandising officer John Fleming resigned from his post in September, the company tapped four executives to take over his role. Visit www.walmart.com.