Walmart elects Penner as new chairman

FAYETTEVILLE, Ark. – Walmart’s board of directors has elected Greg Penner to serve as chairman. He succeeds Rob Walton, 70, who has served as chairman since 1992. Walmart said Friday that Walton will continue to serve on the board. Penner, 45, is Walton’s son-in-law, and he has served on the retailer’s board since 2008. Last