A customer searches products in a Walmart store in Burbank, California.
Patrick T. Fallon | Bloomberg | Getty Images
Walmart announced Thursday that its president and CEO in the US, Greg Foran, is stepping down and being replaced by Sam & # 39; s club head John Furner.
Foran leaves the company to become CEO of Air New Zealand Limited, the company said in a press release.
The move will take effect on Nov. 1
"John knows our business well, having worked in many different professions" The company has been in existence for more than 25 years and it is helping to transform it for the future, "McMillon continued," He has the experience and the judgment to know what we should continue to do and what we should change. He welcomes technology and new ways of working, and keeps our clients and Sam's Club members at the center of our actions, delivering results for the business.
Foran has been CEO of Walmart US since August 2014. He first came to Walmart in October 2011.
Walmart announced that he would be Furners successor as President and CEO of Sam's Club at a later date In his new role as head of Walmart US, Furner reports directly to McMillon.
Earlier in the year, a report from Vox stated that tensions between Walmart's director of e-commerce business in the US, Marc Lore, risen, and Foran.
According to reports, they did not agree on how Walmart should spend money on business or on digital companies losing money.
Furner, 45, has been working since 1993 Walmart as a Hours Worker He became Sam's Club CEO two years ago and has held other roles within the company, including Chief Merchandising and Marketing Officer for Walmart China.
The Walmart shares fell by the wayside hours by less than 1% in the news after rising 28% this year. The stock had gained 0.6% the day.