Wal-Mart names first woman as Sam's Club CEO

BENTONVILLE, Ark. (AP) — Wal-Mart Stores Inc., the world's biggest retailer, said today that it has named Rosalind Brewer as CEO of Sam's Club — the first woman and the first African-American to hold a CEO position at one of the company's business units.

Brewer, 49, is replacing Brian Cornell, 52, who is leaving the company so he can return to the Northeast for family reasons.

Brewer, who will also be president of Sam's Club, was previously president of the retailer's U.S. East business unit. She will report to CEO Mike Duke. The moves are effective Feb. 1.

Wal-Mart has in recent years has been battered by a combination of the slow-growing economy and its own decisions that caused U.S. customers to flee to competitors.

But it has refocused on offering the lowest prices and shoppers' favorite goods and that strategy has been paying off. In its third fiscal quarter ended Oct. 28, its net income fell 2.9 percent but it reversed a slump in U.S. namesake business.