Walmart’s board of directors has named a new member to the board.
Former AT&T chairman and CEO Randall Stephenson has taken a Walmart board position, effective March 3. Stephenson is the 12th member of the board.
The other directors include Cesar Conde, chairman of the NBCUniversal News Group; Timothy P. Flynn, retired chairman and CEO of KPMG; Sarah Friar, CEO of Nextdoor; Carla A. Harris, vice chairman of wealth management, head of multicultural strategy, managing director and senior client advisor at Morgan Stanley; Tom Horton, partner at Global Infrastructure Partners and retired chairman and CEO of American Airlines; Marissa A. Mayer, co-founder of Lumi Labs, Inc. and former president and CEO of Yahoo!; Steven S. Reinemund, managing partner of Highline Group, retired dean of business at Wake Forest University and retired chairman and CEO of PepsiCo; Rob Walton; Steuart Walton; and Walmart president and CEO Doug McMillon.
Most recently, Stephenson served as the executive chairman of AT&T’s board, retiring in January 2021 after 38 years with the company. He previously served as AT&T’s CEO and board chairman from 2007 to July 2020. He was also the president of the company from 2007 to September 2019.
He also was the company’s chief operating officer from 2004 to 2007 and the chief financial officer from 2001 to 2004.
“Randall’s experience as a global business leader and, in particular, his leadership skills and insights in finance, technology, retail and brand management will be a tremendous benefit as we shape the next generation of retail,” Walmart board chairman Greg Penner said in a statement. “We look forward to working with him as we drive Walmart’s strategy forward and continue providing effective governance for all our stakeholders.”
Stephenson earned a Master of Accountancy degree from the University of Oklahoma and a bachelor’s degree in accounting from Central State University – now the University of Central Oklahoma.
He served as the chairman of the Business Roundtable from 2014 to 2016, a position that Walmart president and CEO Doug McMillon serves in currently.