Wal-Mart has done quite the overhaul to its upper executive team this week, announcing both a new Chief Merchandising Officer and Chief Financial Officer.
With former CFO Charles Holley announcing his retirement, the company has appointed Brett Biggs in his place.
Steve Bratspies will be the company’s new CMO.
Prior to his current role, Biggs served as CFO of Wal-Mart U.S. from January 2012 until January 2014, and as SVP of Sam’s Club Operations from September 2010 until January 2012. Previously, he served in a variety of roles with the company since he started there in 2000, including SVP and CFO of Sam’s Club, SVP of Corporate Finance and Assistant Treasurer, and SVP of International Strategy and Mergers and Acquisitions.
“Brett is a strong leader whose broad experience uniquely qualifies him to lead our finance and strategy areas,” said Wal-Mart President and CEO Doug McMillon. “He thoroughly understands Wal-Mart’s operations, how we intend to compete in a dynamic and changing retail environment and how we can best serve customers, associates, and shareholders.”
Bratspies, on the other hand, will oversee all merchandise categories across more than 4,500 stores in the company’s U.S. business, but will continue to report to Greg Foran, Wal-Mart's U.S. President and CEO.
"Steve is a true leader and an example of the rich talent that exists within the merchandise organization,” said Foran. “His outstanding merchandising instincts and commitment to innovation and price leadership will challenge the status quo to serve our customers better.”
Most recently, Bratspies served as the EVP of Food for Wal-Mart U.S. where he overhauled the retailer’s grocery aisles with a focus on improving its fresh offerings and expanding its private brand and global sourcing capabilities, according to a press release. Bratspies joined the company in 2005 and has held several leadership positions at Wal-Mart in marketing, dry grocery, and general merchandise.
Bratspies added, "Going forward, we’ll continue our relentless focus on our customers – we’ll move with speed and conviction to ‘super-serve’ the millions who shop Wal-Mart. We will stay true to our mission by strengthening our commitment to everyday low prices, optimizing our assortment, and winning at omni-channel retailing through strong partnerships with suppliers and a continued investment in our associates.”
The company also announced additional leadership changes, including the appointment of Charles Redfield to Bratspies' former position of EVP of Food for Wal-Mart U.S and the appointment of John Furner as EVP of Merchandising for Sam’s Club.