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Walmart Nominates McDonald's CEO Steve Easterbrook To Board

Walmart Inc. (WMT) has nominated McDonald's Corp. Chief Executive Officer Steve Easterbrook to its board. Easterbrook, a 50-year-old British native, will replace Instagram founder Kevin Systrom, who is departing after four years to prioritize work and other outside commitments.

James Cash, Walmart's lead independent director, is also retiring from the board after a 12-year tenure. Existing director Thomas Horton, the former head of American Airlines Group Inc., will assume Cash's role.

The company said that Proxy materials seek shareholders' votes on 11 director nominees, two company proposals and two shareholder proposals.

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