Wal-Mart Names Holley to Succeed Schoewe as CFO

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Wal-Mart Stores Inc. is promoting Charles Holley to chief financial officer, replacing Tom Schoewe as the world’s biggest retailer shakes up its executive ranks.

The change takes effect Nov. 30, and Schoewe will stay on until Jan. 31 to assist with the transition, the Bentonville, Arkansas-based company said today in a statement. Holley, who currently serves as treasurer, joined Wal-Mart in 1994.