09:07 AM EDT, 04/26/2024 (MT Newswires) -- Walmart ( WMT ) has nominated Chipotle (CMG) Chief Executive Brian Niccol to serve on its board as an independent director, the company said in its annual report proxy statement on Friday.

Rob Walton, son of Walmart ( WMT ) founder Sam Walton, will retire from the board, effective June 5, the company said.

Tom Horton, lead independent director, said Niccol's "experience in retail, marketing, and brand management" will benefit Walmart ( WMT ).

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