Former Wal-Mart CEO Glass to Leave Board

Wal-Mart Stores yesterday said David Glass, the company's former president and chief executive officer, has chosen not to stand for reelection to the company's board of directors at the company's annual shareholders' meeting on June 5.

BENTONVILLE, Ark. — Wal-Mart Stores yesterday said David Glass, the company's former president and chief executive officer, has chosen not to stand for reelection to the company's board of directors at the company's annual shareholders' meeting on June 5.

Glass joined Wal-Mart as executive vice president of finance in 1976, was elected to its board a year later and named president in 1984. He succeeded the company's founder Sam Walton as president and CEO in January 1988 and remained in that position until retiring in January 2000.

"I cannot overstate David's contribution to our company," said Rob Walton, chairman of the board of Wal-Mart. "He established a new foundation for the company's growth, and my dad considered him to be one of the finest retail talents he had ever met."

Glass was instrumental in the creation of Sam's Club and is credited with pioneering development of the first supercenter. Under Glass' leadership, Wal-Mart became the nation's largest retail company and made its first foray into international markets with an acquisition in Mexico.

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