Rob Walton will step down from the board of the big-box retailer Walmart on June 5, the company announced on Thursday, April 25. A bio on the corporate website states that Walton, the eldest son of Walmart founder Sam Walton, chaired the company's board of directors from 1992 to 2015.
In a regulatory filing announcing Walton's retirement, Greg Penner, the current Chairman of Walmart's board, stated, "His leadership has been critical as we've grown our business over so many years."
Walton began working for the corporation in 1969 and held several positions, including vice chairman, corporate secretary, general counsel, and senior vice president. Forbes claims that the Waltons are the wealthiest family in America due to their stake in the retailer, the world's largest by sales.
Who is Rob Walton?
Early life and career
Rob Walton was born in Tulsa, Oklahoma, on October 27, 1944. He is the eldest of the four children of Sam and Helen Walton, the cofounders of Walmart. Walton attended The College of Wooster and earned a Bachelor of Science in business administration from the University of Arkansas in 1966.
While enrolled, he also belonged to the fraternity Lambda Chi Alpha. In 1969, Columbia Law School awarded him a juris doctor degree. Walton is also a trustee of The College of Wooster. Following graduating, Walton joined the Tulsa, Oklahoma-based law firm of Walmart, Conner & Winters. He moved to Walmart in 1978 as a senior vice president after leaving Tulsa, and in 1982, he was named vice chairman.
Two days after his father's passing, on April 7, 1992, he became chairman of the board of directors. The majority of Walton's daily authority was given to his son-in-law, Walmart chairman Greg Penner, who succeeded him as the company's CEO and public face.
Personal life
Walton was remarried to Carolyn Funk, had three children, and had separated from his first wife by the time he departed Tulsa in 1978. In 2000, he filed for divorce from Carolyn. In 2005, Walton married Melani Lowman.
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