A Changing of the Guard on Wal-Mart Board

Gregory B. Penner, nominated to the Wal-Mart Stores board in April, is expected to win election at the annual meeting in Fayetteville, Ark., tomorrow.

Observers contend the addition of Penner, the 38-year-old son-in-law of Wal-Mart Chairman S. Robson Walton who has served on the board for 30 years, 16 of those as chairman, portends a changing of the guard at the world's largest retailer, The Wall Street Journal reports.

In a story today, the WSJ describes Penner as being groomed for greater leadership by Walton, the 63-year-old son of founder Sam Walton. Also expected to be elected to the board is Arne Sorenson, chief financial officer of Marriott International.

In 2000, Penner helped start Walmart.com and two years later moved to Japan where he was involved in the acquisition of Seiyu Ltd and became the CFO.

Most recently, Penner has managed family investments through Madrone Capital Partners in Menlo Park, Calif.