Buddy Philpot, who has served as executive director of the Walton Family Foundation for 15 years, is stepping down from that post, according to a Tuesday news release from the foundation.
"We are pleased that Buddy will stay involved with our family on an expanding number of projects at Walton Enterprises," the news release stated. "He also has committed to stay on at the foundation as long as necessary to help ensure a smooth transition as we conduct a national search for a new executive director."
Philpot's tenure has seen the foundation's annual grant output grow from $40 million to almost $400 million.