Treasurer Charles Holley is introducing new cash management services to deliver on Wal-mart's promise of always low prices
By Richard Gamble|July 25, 2007 at 08:00 PM
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In January 2007, Charles M. Holley Jr. was promoted to executive vice president of finance and treasurer of Wal-Mart Inc. In some ways, it was a logical progression for the veteran financial executive. His 13 years at Wal-Mart have seen an orderly sequence of promotions–starting as senior vice president and CFO of the international division, moving up to senior vice president and controller of the corporation and then to senior vice president of finance. But his new job has reshuffled Holley’s portfolio of responsibilities in ways that move him away from the comfortable world of accounting and control he first entered 27 years ago as a CPA with Ernst & Young. Until now, Holley has been responsible at Wal-Mart for control and accounting, as well as tax and investor relations. Now, his mandate will be to run a complex treasury operation for a huge, dispersed cash-generating empire. He now must grapple with Wal-Mart’s banks and investment bankers. But Holley is no stranger to challenges. Before Wal-Mart he was managing director for Tandy’s European Memorex Consumer Product Division, as well as director of finance for its international activities. He received a BBA in accounting from the University of Texas at Austin and his MBA in finance from the University of Houston. Recently, Holley spoke with Treasury & Risk‘s senior contributing editor Richard Gamble about his new duties and plans for Wal-Mart’s treasury.
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