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The board of directors of Wal-Mart Stores Inc. has appointed Timothy P. Flynn, retired chairman of KPMG International, a new member of the company’s board. The 17th member of the board, Flynn will also serve as a member of the company’s audit committee.
“Throughout his career, Tim has demonstrated a level of professionalism and personal integrity that is synonymous with our values at Walmart,” said Rob Walton, chairman of the Bentonville, Ark.-based mega-retailer. “He's a talented leader whose global insights, strategic vision, and expertise in business strategy and governance will be a valuable addition to our company.”
“I have admired Walmart for years and have a deep appreciation for the principles and values of Sam Walton that still guide the company today,” added Flynn. “Not only does Walmart have a strong and successful business model, it is also making a major impact by addressing social issues like environmental sustainability and access to healthier food.”
Flynn has extensive experience in risk management, financial services, financial reporting and accounting from his 32 years at KPMG International and its predecessors, serving as the company’s international chairman from 2007 until his retirement in October 2011. In this role, he led a global executive team responsible for the firm’s management and operations, and oversaw a global board of senior partners responsible for the strategy, oversight and governance of the global network. He was also chairman from 2005 to 2010 and CEO from 2005 to 2008 of KPMG LLP, the U.S. and largest member firm of KPMG International.
Flynn currently serves as a member of the board of directors of JPMorgan Chase & Co. He was previously a trustee of the Financial Accounting Standards Board, a member of the World Economic Forum’s International Business Council, and a founding member of The Prince of Wales’ International Integrated Reporting Committee.