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Brian Cornell, the former Safeway chief marketing officer who has been serving as CEO at arts and crafts retailer Michaels Stores, is joining Walmart as CEO of its Sam’s Club division.

Ironically, he will be replaced at Michaels by John Menzer, the former Walmart vice chairman and chief administrative officer who retired from the world’s largest retailer about 14 months ago. Menzer worked as an executive in arts and crafts retailing for a decade before joining Walmart.

KC's View:
Does Michaels’ also get a player to be named later?