Allen Questrom knows something about putting the life into a lagging retailing banner. He demonstrated his skill in that area while running J.C. Penney. Before that he led Barney's back to solvency following that chain's declaration of bankruptcy. Going even further back, Mr. Questrom steered Federated out of bankruptcy proceedings and engineered Federated's strategic acquisition of RH Macy & Co. in 1995.
What's next for Mr. Questrom? As it turns out, it may be Wal-Mart. The 40+ year retailing veteran has been nominated to join Wal-Mart's board of directors, making Mr. Questrom the first former retailer to have been extended that invitation since 1993.
Patricia Edwards, a money manager at Wentworth, Hauser & Violich, told Bloomberg News, "For an embattled company and management, I would think this would be seen as a bit of a coup."
Discussion Question: What is your reaction to Allen Questrom joining Wal-Mart's board of directors?