Wal-Mart Stores, Inc. (NYSE:WMT) made an announcement this morning that Google Inc's (NASDAQ:GOOG) Vice President Marissa Mayer was nominated for Walmart's Board Seat. The election is set to happen at the annual shareholders' meeting on June 1st.
Mayer originally joined Google Inc back when they first started in 1999 as their first female engineer. Before that, she worked at SRI International and UBS research laboratories in Zurich. She's currently the vice-president of Local and Maps. Some of her projects with the company include Gmail and Google Search. She's held this position for two years. Her previous position with the company was Vice President of Search Products and User Experience). Although she's not on Google's board of directors but she does serve on the boards of San Francisco Museum of Modern Art, San Francisco Ballet, and the Smithsonian Cooper-Hewitt National Design Museum.
Mayer released a statement after the announcement saying that she admires Wal-Mart as a company and that she is anticipating her chance to help shape the future of the retailer. Mayer could become the sixteenth member on the board if she's elected.
Rob Walton, the chairman of Wal-Mart, also released a statement that the retail giant wants to provide their customers with anytime anywhere access via the means of online, mobile, and in-store. He thinks that Marissa's experience in technology and consumer relations will only benefit the company.
Walmart earned net sales of $444 billion last year. Much of their success can be attributed to low priced merchandise and competitive business practices. The company was originally founded by Sam Walton in 1962 and incorporated in 1969. It is currently one of the leading retailers in the United States and it's also the largest grocery chain.
This sounds like an exciting new opportunity for Mayer but it should also prove beneficial for Walmart as she will bring her knowledge and expertise to the board.