18 January 2007 | Paul Snell
The president and CEO of global procurement at Wal-Mart, the world's largest retailer, has resigned from his role.
Lawrence Jackson said he was leaving the company to spend more time with his family. "Throughout the past 30 years, as I've built my career, my family has been unselfishly supportive," he said in a statement. "I now have three teenagers and have decided to spend more time with them and my wife."
He said he would continue teaching, executive coaching and corporate board work, adding: "I would not trade my experience at Wal-Mart for anything."
Jackson has only been in charge of Wal-Mart's purchasing division since April 2006 and previously worked as the firm's executive vice-president, people division. He joined in 2004 and was previously president and COO at US retailer Dollar General. In 2002 Fortune magazine named him as one of the 50 most powerful black business executives.
Jackson will be replaced by Jeff Macho, who has been promoted to senior vice-president of global procurement. He has worked in procurement for 13 years, joining the group in 2005 as vice-president and managing director of apparel merchandising in global procurement. He will stay located in China and be responsible for Wal-Mart's purchasing offices in 28 countries as well as the firm's ethical standards team.
Lee Scott, president and CEO at Wal-Mart, said: "We are fortunate to have had the benefit of Lawrence's experience. We look forward to working with Jeff."