Tom Horton, former American Airlines chairman, has been appointed to Wal-Mart Stores Board of Directors as of Friday, Nov. 21. Horton is the 16th member of the retail giant’s board and will serve on the company’s audit committee.
"Tom’s management and business experience and, in particular, his roles in operational and financial management at American Airlines will bring valuable insights to the Board," said Walmart Chairman Rob Walton. "His broad leadership roles combined with his global insights and understanding of the corporate issues a multinational company manages will benefit the Board, our management team and our shareholders."
The 53-year-old executive has more than 30 years of business and finance experience.He joined American Airlines in 1985 from international accounting partnership firm Peat Marwick & Company, now KPMG, and continued with American until 2002, rising to the role of senior vice president, finance and chief financial officer.
He left American in 2002 for AT&T, where he served as chief financial offier and later was appointed vice chairman. In 2005, Horton led the evaluation of strategic alternatives that ultimately led to the combination with SBC Communications, which formed the new AT&T. In 2006, Horton returned to American Airlines working his way up financial leadership roles to be named president and board chairman in 2010 and CEO in 2011. Horton led American through a restructuring with culminated in the merger with U.S. AIrways. Horton stepped down as CEO in December 2013 and remained the non-executive board chairman until June.
"I’ve long admired Wal-Mart’s values and its successful record of improving peoples lives around the world," said Horton. "Wal-Mart has a strong leadership team backed by a solid business plan and is building new and innovative ways to serve customers. I look forward to working with my new colleagues on the Board."
Horton holds a master’s degree from Southern Methodist University (SMU) and a bachelor’s degree from Baylor University. He serves on the board of directors of Qualcomm Inc., a developer and innovator of advanced wireless technologies. He also serves on the executive board of the Cox School of Business at SMU.