BENTONVILLE, Ark. -- Wal-Mart Stores here has promoted H. Lee Scott to vice chairman and chief operating officer, the company said last week.
Glass, CEO of Wal-Mart Stores, the company told SN last week. Jay Allen, the company's vice president of corporate affairs, stood behind a quote attributed to him in a story last week in WWD, SN's sister publication: "This appointment indicates Lee Scott has a good chance to succeed David Glass as CEO of Wal-Mart."
Scott succeeds Donald Soderquist, who was promoted to senior vice chairman. The company also promoted Thomas M. Coughlin from executive vice president and chief operating officer to president and CEO of the Wal-Mart Stores Division, succeeding Scott. Coughlin reports to Scott.
Rob Walton, Wal-Mart's chairman, said the promotions "will help prepare the next generation of senior Wal-Mart management and are part of our ongoing succession planning."