Walmart looks to Michael Francis as next CMO

Walmart Chief Marketing Officer Stephen Quinn is retiring in January and long-time Target veteran Michael Francis is expected to take his place, The Wall Street Journal reported.

Quinn has been with Walmart since 2007 and led the team that created the "Save money. Live Better." slogan at Walmart. He was previously CMO at Frito Lay and PepsiCo International, where he had a 16-year stint.

Francis is currently chief global brand officer at DreamWorks Animation, a role he began in December 2012. Prior to DreamWorks, he was president of JCPenney for eight months under the leadership of then-CEO Ron Johnson.

However, Francis is best known for his 27-year career at Target as CMO, credited with being the chief architect of the retailer's cheap-chic image, marketing the retailer's early designer partnerships with home goods designer Michael Graves and fashion house Missoni.

Along with several executive changes as of late, Walmart has been executing a strategic plan set by CEO Doug McMillon that includes creating a better work environment for employees, improving stores and merchandise, and focusing heavily on digital innovation. Story