A key executive at Wal-Mart is leaving the troubled retailer, the company told CNBC on Thursday.
Stephen Quinn will retire from his post as executive vice president and chief marketing officer effective Jan. 31. Quinn joined the company 10 years ago and has served in his current position since 2007.
Shares of Wal-Mart were slightly lower in extended trade. Year to date, the retailer's stock is the worst performer in the Dow.
The company will bring Michael Francis on as a consultant, starting Jan. 1, 2016. Francis has previously consulted for Target and DreamWorks.
"Stephen has always advocated on behalf of our customers and has built a strong team that delivers our message to them in compelling ways. With responsibility for all aspects of our marketing efforts, including customer research, strategy, program development, branding and customer communication, he and his team have represented the voice of the customer," said Deisha Barnett, a Walmart spokesperson.
