Retail
Useless News Of The Day: Son Of Sex Therapists Join Wal-Mart (WMT) Board
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Most of the descendants of Sam Walton, the founder of Wal-Mart (WMT) have often been a quart low. That may be why none of them has run the company. One of his daughters raises llamas. Another died flying a poorly-built ultra-light airplane.
Now, the family has decided to put an in-law on the board, He has done work at the company. And, his parents are sex therapists, which does not disqualify him altogether. The fact that he was CFO of the Wal-Mart operation in Japan, which has lost hundreds of millions of dollars, probably should.
According to The Wall Street Journal, "Gregory B. Penner, who was nominated to the board in April, is the 38-year-old son-in-law of Wal-Mart Chairman S. Robson Walton, himself a son of company founder Sam Walton."
Penner has a bit of a padded resume. He helped "start" the walmart.com business. He now runs the family investments.
Wal-Mart shareholders should be concerned if he is the most qualified candidate the board could find.
Douglas A. McIntyre
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