Former PepsiCo chief to stand for Walmart's board election

Wal-Mart Stores Inc. has announced that a former PepsiCo Inc., chairman and chief executive officer, Steven S Reinemund has been nominated as a candidate for the board election.

Reinemund, 62, served at PepsiCo for 23 years, including his tenure as chairman and CEO from 2001 to 2006. He is a member of the board of directors of Exxon Mobil Corporation, American Express Company and Marriott International, Inc.

Walmart Chairman Rob Walton said that Reinemund’s domestic and international retail experience makes him an ideal candidate to join the board.

The company also announced that current board member Allen Questrom, who joined Walmart in June 2007, will not stand for re-election.