Wal-Mart Stores Inc., the world's largest retailer, named a new chief of its Sam's Club unit, which is struggling in the face of tough competition from Costco Wholesale Corp. and BJ's Wholesale Club Inc.
Wal-Mart promoted its chief information officer, Kevin Turner, 37, to replace Tom Grimm, who is retiring.
Growth at Sam's Club has lagged behind Wal-Mart's other units. Earlier this month, the warehouse segment posted operating profit growth of just 3% for the second quarter. By comparison, operating profit at the flagship Wal-Mart Stores segment was up 17%.