Wal-Mart Stores, Inc. announced today that it has appointed Tom Horton, former chairman and CEO of American Airlines, to its board of directors. Horton becomes the board’s 16th member, and he will serve on the company’s audit committee, Wal-Mart stated.
Horton joined American Airlines in 1985 from international accounting partnership firm Peat Marwick & Co., now KPMG, and continued with American until 2002, rising to the role of senior vp/finance and CFO, according to Wal-Mart. He left American in 2002 to become AT&T CFO and later vice chairman. In March 2006, Horton returned to American as executive vp/finance and planning, Wal-Mart maintained. He became president in 2010 and chairman and CEO in 2011, at which time he led American through a successful restructuring and turnaround that culminated in a merger with US Airways, a move that created the world’s largest airline. He stepped down as president and CEO of American in December 2013 and remained non-executive chairman of the board until June, Walmart noted.
“Tom’s management and business experience and, in particular, his roles in operational and financial management at American Airlines will bring valuable insights to the board,” said Walmart chairman Rob Walton in announcing the appointment. “His broad leadership roles combined with his global insights and understanding of the corporate issues a multinational company manages will benefit the board, our management team and our shareholders.”