FX168 Financial News (North America), #传奇人物故事 #沃尔玛周四 (April 25) said that Rob Walton (Rob Walton), the longest-serving member of the board of directors, will retire from his position at this major retailer when his term ends on June 5.

(Rob Walton, Source: Reuters)

Walton is the eldest son of Walmart founder Sam Walton. After his father's death in 1992, he was the chairman of the company's board of directors and served until June 2015.

He was succeeded by his son-in-law Greg Penner (Greg Penner), who remains the chairman of the world's largest retailer.

“Our business has continued to grow over the years, and his leadership is critical,” Penner said in regulatory documents announcing Walton's retirement.

Walmart said it has nominated Brian Niccol (Brian Niccol), chairman and CEO of the Chipotle Mexican Grill chain, to replace Walton as a board member, which consists of 11 directors. The company said that if elected, Nicole would be the fifth new independent director to join the board since 2017.

Walton, 79, was the longest-serving member of the board and helped shape some of the most important moments, including participating in the 1970 initial public offering.

Since joining the company in 1969, Walton has held various positions, including senior vice president, company secretary, general counsel, and vice chairman.

According to Forbes, Rob Walton is ranked 19th in the list of the world's richest people and currently has a net worth of $77.4 billion. Most of his wealth is linked to Walton Enterprises and his shares in sports teams such as the National Football League Denver Broncos.

According to London Stock Exchange data, as of February 23, he held 6.97 million Walmart shares, accounting for 0.09% of the total. Based on Walmart's closing price of $60.21 on Thursday, this is equivalent to about US$420 million.

According to Forbes, the Waltons are the richest family in the US, and they own nearly 45% of the retailer's shares.