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Will Walmart (WMT) Stock Be Helped by New CFO, Chief Merchant?

NEW YORK (TheStreet) -- Walmart (WMT - Get Report) announced on Friday a new CFO and chief merchant, as part of the company's push to revive sales.

Charles Holley, who has been Walmart CFO since 2010, will retire at the end of 2015, and Brett Biggs, current CFO of Walmart International, will take over the role.

Holley will receive total payments of $1.9 million during the two years after his retirement, as well as restricted stock worth roughly $2.1 million that wasn't scheduled to vest until 2017 and 2018, the Wall Street Journal reports.

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Walmart also announced that Steve Bratspies will become chief merchandising officer for U.S. stores beginning on October 19. Bratspies, an executive VP who has been in charge of the food and grocery business for the company's U.S. stores, will be filling a position that has been vacant since November of 2014, according to the Journal.

Walmart has been struggling in recent months amid higher competition from Amazon.com (AMZN) and an increased number of grocery retailers and dollar stores...


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