Walmart US President Greg Foran is Resigning

Walmart announced on Thursday that its U.S. president Greg Foran would be departing the company and taking over his position would be Sam’s Club CEO John Furner.

Furner will replace Foran effective November 1st however Foran will stay around with the retailer through Jan. 31 “to ensure a smooth transition.”

Foran is leaving to become CEO at Air New Zealand Limited, Walmart said in a press release.

“John has done a fantastic job at Sam’s Club, and he will continue the momentum we have in Walmart U.S.,” CEO Doug McMillon said in a statement.

“John knows our business well, having held many different jobs in the company over more than 25 years, and he is helping transform it for the future,” McMillon went on. “He has the experience and judgment to know what we should continue doing and what we should change. He embraces technology and new ways of working, and he keeps our customers and Sam’s Club members at the center of everything we do, while delivering results for the business.”

Foran has served as CEO of Walmart U.S. since August 2014 while Furner has been working at Walmart since 1993, when he started as an hourly employee. He became Sam’s Club CEO two years ago.

Disclaimer: We have no position in Walmart Inc. (NYSE: WMT) and have not been compensated for this article.