Obituary: Jack Shewmaker

ROGERS, Ark. — Services were held here last week for Jack Shewmaker, an influential former officer and board member of Wal-Mart Stores. He died Nov. 17 at age 72 of an apparent heart attack. Shewmaker was hired by Sam Walton as a district manager and rose to become president and chief executive officer of the company in 1978 and vice chairman and chief financial officer in 1984 until retiring in 1988. He served on Wal-Mart's board of directors from 1977 to 2008. “He was instrumental in developing our Every Day Low Pricing strategy, which defined our company and set new standards in the retail industry for providing customers with consistent, reliable value,” said Mike Duke, Wal-Mart's CEO, in a memo to employees.