Charles Holley To Replace Tom Schoewe As Wal-Mart CFO

Wal-Mart Stores Inc WMT has announced the retirement of company's Chief Financial Officer (CFO) Tom Schoewe. WMT has promoted Charles Holley to the post of CFO, with effect from November 30. Wal-Mart CEO Mike Duke said, "Charles has great expectations both inside Wal-Mart and externally. He is a talented strategist who also thoroughly understands the details of our business and the financial markets." Schoewe will remain with Wal-Mart till January in order to help with the transition. He had joined Wal-Mart 10 years back. He earlier worked for the Tandy Corp, currently known as Radio Shack. WMT's shares lost 0.87% to $53.35 in the after-hours trading session. Read more from Benzinga's Company news.