Walmart 1997 Annual Report Download - page 7

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5
Stephen Friedman, senior chairman and limited partner of
Goldman
Sachs & Co., equates Wal-Mart with excellence.
The company constantly strives to satisfy customers and
refuses
to settle for “good enough,” he says. “It is one of the
very few companies in the world which has genuinely
sparked a revolution.” Besides his position on the Wal-Mart
board, Friedman holds leadership roles including vice
chairman of the Columbia University trustees and executive
committee chairman of the Brookings Institution.
Ca n’t bea t the upbea t...
A persona l ‘sea rch for ex cellence’
‘ V ision, m ission a nd ca m a ra derie’
Jack Shewmaker somehow
finds time to fish in the
Patagonia Mountains of South
America, consult with retail,
distribution and manufacturing
companies in South Africa,
Australia and Asia, and ski
with his grandchildren.
He announced his “semi-
retirement” from Wal-Mart
in 1988 after 18 years with our
company, during which he
rose from district manager to
Vice Chairman and Chief
Financial Officer. “I started
there when Wal-Mart was
small, with $30 million
in sales,” he says. “No one
imagined it would be as big as
it is today.” Shewmaker, named
one of the 10 Most Influential
People in Mass Retail Today
by Discount Merchandiser
in 1997, says Wal-Mart is a
phenomenon that grew from
“a desire to do something
different, better, and more
efficiently with a sense of vision,
mission, and camaraderie.”