Tom Coughlin, who helped lead Walmart (NYSE:WMT) for the better part of two decades, passed away on April 1 at age 66.
Coughlin began his career with Walmart in 1978 in the company's security division, and was named vice chairman and elected to the board in 2001.
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But his tenure ended in scandal when in 2005 he was accused of stealing from the company and an investigation found he misused roughly $500,000 in company gift cards and fraudulent reimbursements.
Coughlin pled guilty to five counts of wire fraud and one count of filing a false income tax return. He served his sentence in home confinement and paid more than $460,000 in fines.
Still, Coughlin was respected in the retail community and continued to attend and speak at industry events. He was a protege of Sam Walton and was considered a dynamic and personable leader.
"Like me, many of you worked with Tom over his more than 26 years with the company. I know firsthand how much he loved our associates and this company," CEO Doug McMillon said in an email to company executives, according to The Wall Street Journal.
For more:
- see this Wall Street Journal article (tiered subscription)
- see this Northwest Arkansas online article