Wal-Mart reassigns several top execs
The recent appointment of Doug McMillon as president and chief executive officer of Wal-Mart Stores Inc. has been followed by several reassignments within Wal-Mart International, where Mc-Millon served five years as president and CEO of the global retailer’s fastest growing business.
Wal-Mart has named Krish Iyer as president and CEO of Walmart India starting Jan. 20. He will replace interim CEO Ramnik Narsey and will report to Wal-Mart Asia Regional President and CEO Scott Price.
Price will become senior vice president of Wal-Mart international. Last week, David Cheesewright was named president and CEO of the division after much success for the company, especially with the United Kingdom’s Asda grocery-delivery business.
- Cyd King
Legal chief departs Van Buren trucker
J. Rodney Mills has resigned as general counsel and executive vice president at USA Truck.
Mills’ departure was announced by the company in a filing with the Securities and Exchange Commission. Mills began serving as general counsel and overseeing the USA Truck legal department in 2006.
Mills has also worked with the Van Buren-based trucking firm as vice president for risk management and safety, and he began serving as the company’s legal representation in 1990.
A USA Truck representative said Mills is leaving for a position with ABB Group, which owns Baldor Electric in Fort Smith.
Mills was being paid $180,000, according to the company’s proxy statement. He earned $226,843 in 2012 and $222,085 in 2011.
- Chris Bahn
State index jumps 3.36 to close 329.20
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 3.26 to 329.20 Monday.
“Following a two-week losing streak, investors were optimistic as economic data overshadowed any lingering concerns about potential stimulus tapering at the conclusion of the Federal Open Market Committee policy meeting on Wednesday,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Broad market strength was reflected in the Arkansas Index stocks, with only one issue falling by more than 1 percent, Williams said.
Acxiom and Home Bancshares established 52-week highs during the session, he said.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 23 on 12/17/2013