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00:03Walmart is preparing for a leadership transition as John Ferner takes over as CEO next week,
00:08according to Bloomberg. Walmart shares are up 20% over the past year, with market value
00:14approaching $1 trillion as the retailer gains wealthier customers and grows e-commerce.
00:20As head of Walmart U.S., Ferner is described by colleagues as a leader willing to challenge
00:24convention within Walmart's entrenched corporate culture. Ferner is known for challenging
00:30convention, experimenting with store formats and loyalty features, and pushing digital
00:35initiatives. As competition from Amazon, Aldi, and Target intensifies, Ferner is expected to
00:41expand Walmart's technology and AI efforts while maintaining its core operating discipline.
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