Walmart’s Chief Marketing Officer (CMO), Stephen Quinn is retiring from his position in January 2016, according to sources of The Wall Street Journal. Quinn held the position since 2007. Neither Quinn nor Walmart have commented on the retirement.
The retailer is reportedly hiring former Target CMO Michael Francis as a marketing consultant, and is expected to initiate a revamp of its marketing department. Francis will likely work closely with Quinn’s eventual successor.
The hire looks to be a proper fit for the big box giant, which has a goal to attract more middle- and upper-income households to the retailer. Francis, who helped build the “cheap-chic” strategy that boosted Target’s popularity, would ideally bring that same kind of approach to Walmart’s day-to-day operations.
Francis, who most recently served as the Chief Global Brand Officer for DreamWorks Animation, spent 27 years at Target, where he helped architect the retailer’s designer partnerships and brand positioning. He also served less than one year, from October 2011 to June 2012, as the President of JCPenney, and later on held an advisory role for Gap.
Walmart has had numerous changes this year in its executive team in an effort to tighten up organizational structure, with longtime CFO Charles Holley also stating he would retire at year’s end.