More then a year after its president left “to pursue other opportunities” the Wal-Mart Foundation has a new president.
The retailing giant said it named Margaret McKenna, former president of Lesley University, as the new president of the foundation. Its previous president, Betsy Reithmeyer, left the foundation in April of 2006.
Last year, Wal-Mart said it gave more than $270 million to U.S communities, and it hired McKenna to “take the Wal-Mart Foundation to the next level of effectiveness by strengthening our strategic focus and the impact of our giving.”
Wal-Mart said that under McKenna’s tenure at Lesley University, the university’s endowment increased from $2 million to more than $90 million.
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