Wal-Mart Names New Board Chairman, Keeps Job in Family

Wal-Mart is keeping it in the family. Greg Penner, vice chairman of Wal-Mart Stores Inc.’s board of directors, has been elected board chairman, the company said Friday. Penner succeeds Rob Walton, who served as chairman of the board since 1992 and will stay on as director. Walton, 70, is also Penner’s father-in-law and son of company founder Sam Walton, who died in 1992.