Wal-Mart Says Brewer to Lead Sam’s Club as Cornell Leaves

Wal-Mart Stores Inc., the world’s largest retailer, said Brian Cornell would step down as president and chief executive officer of its Sam’s Club membership warehouse unit and be replaced by Rosalind Brewer.

Brewer, 49, most recently was president of Wal-Mart’s U.S. East business unit, the Bentonville, Arkansas-based company said today in a statement. Cornell, 52, told Wal-Mart he planned to move to the U.S. Northeast for family reasons.