Wal-Mart Stores, Inc. announced that the company's board of directors has elected three new directors. The new board members are:

  • Dawn G. Lepore, vice chairman and chief information officer (CIO) of The Charles Schwab Corporation. Lepore, 47, has been with Schwab since 1983 and is currently responsible for the company's worldwide use of information technology, including all telecommunications, operations, and customer and business applications.

    During the past 18 years at Schwab, Lepore has played a leadership role in the expansion and redesign of Schwab's information systems, now recognized as one of the most advanced in the industry.

    Based in San Francisco, The Charles Schwab Corporation, through its principal operating subsidiary Charles Schwab & Co., Inc., provides a broad range of financial and brokerage services to individual investors, independent investment managers and institutions through a multi-channel account access system.

  • Jim Breyer, the managing partner of Accel Partners, a leading venture capital firm established in 1984 in California's Silicon Valley. At Accel, Breyer, 40, has been responsible for numerous successful Internet, communications and software investments, and he serves on the board of directors of several such firms.

    He has played an integral role in helping management teams recruit, develop corporate and product marketing strategies, and establish strategic and technical partnership agreements. As Accel's managing partner, Breyer also has worked closely with Wal-Mart during the past 18 months in the ongoing development of Walmart.com.

    Accel was a minority investor and Breyer served on the Walmart.com board of directors between January 2000 and July 2001, when Walmart.com was an independent company. Wal-Mart and Accel announced July 23 that Wal-Mart is acquiring all the minority interest in Walmart.com in order to establish the deepest integration possible between the company's online and offline programs.

  • Thomas M. Coughlin, president and chief executive officer of Wal-Mart Stores and Supercenters U.S.A. Coughlin, 52, currently oversees the operations and merchandising in Wal-Mart's more than 2,600 stores, Supercenters and Neighborhood Markets in the United States.

    Coughlin also is responsible for Wal-Mart's loss prevention and marketing divisions. Coughlin joined Wal-Mart in 1978 and during his career has served as vice president of loss prevention, vice president of human resources, executive vice president of operations at SAM'S CLUB, executive vice President of Wal-Mart's specialty divisions, and executive vice president and chief operating officer of Wal-Mart store operations.

    "These three individuals add depth and complementary experience to an already strong board," said Rob Walton, chairman of the board of Wal-Mart Stores, Inc. "We are proud of our team of directors. They are making a significant contribution to the profitable growth of Wal-Mart around the world."

    In addition, the board of directors of Wal-Mart Stores, Inc. declared a quarterly cash dividend on the common stock of seven cents ($0.07) per share, payable Oct. 9, 2001, to shareholders of record on Sept. 21, 2001.

    With annual sales of $191bn, Wal-Mart Stores, Inc. operates nearly 2,700 discount stores, Supercenters and Neighborhood Markets, and more than 485 SAM'S CLUBS in the United States. Internationally, the company operates more than 1,080 units. Wal-Mart employs 1.2 million associates worldwide. The company's securities are listed on the New York and Pacific stock exchanges under the symbol WMT. More information about Wal-Mart can be located on-line at . The SAM'S CLUB Web site can be accessed at .

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