Stephen Quinn, chief marketing officer, could retire in January, according to sources cited in the report.
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Mr. Francis joins Walmart in his new consulting role after serving as the chief global brand officer at Dreamworks Animation SKG since 2013. Francis spent almost 27 years at Target, and is widely credited with pioneering Target’s “cheap-chic” image.
Francis will initiate a broad revamp of Wal-Mart’s marketing department and will likely work closely with Quinn’s eventual successor, the newspaper said. He joined Wal-Mart in 2005, and led the team that created the company’s “Save money”.
Shares of Wal-Mart were up over 1 percent in afternoon trade.
Speaking of his new assignment, Mr. Francis said (via the Journal), “I’m committed to building on the strength of that [Walmart] brand, and I couldn’t be more excited about the opportunity”.
Francis’ move to Wal-Mart could unnerve executives at Target, which is in the process of implementing its own turnaround.
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Since Mr. Francis left Target in late 2011, his career has been mixed. It has also been making changes to its top management under Wal-Mart CEO Doug McMillon. “If I was still working Target, my heart would just sink”, a former Target executive told the Journal. There, he served as president and worked for then-CEO Ron Johnson, who was spearheading a major reinvention plan that ended up being a disaster.
