Wal-Mart Stores, Inc. (NYSE:WMT) is fractionally lower following news US CEO Joel Anderson will leave the retail behemoth on June 20 to be president of Five Below Inc (NASDAQ:FIVE), a teen discount chain, leading merchandising and marketing.
Succeeding Anderson will be Fernando Madeira, currently the CEO of Latin America, who will take on a newly created role leading the company’s US, Latin America and other markets.
in other news, WMT states safety is a priority following a crash on a New Jersey highway in which a WMT truck driver was accused of causing a crash that killed one person and injured others, including actor/comedian Tracy Morgan. Authorities state the trucker had not slept for more than 24 hours prior to the accident.
WMT is down 0.4% to $76.67 per share trading in the middle of a 52-week price range of $71.51 – $81.37 per share.
FIVE shares got a lift on Anderson’s joining the executive team, up 3.2% at $36.59 per share in afternoon Tuesday trading. hares trade near the lower end of a 52-week price range of $33.94 – $55.28 per share.
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