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The Richest Woman in the World: How Gina Rinehart Earns her BillionsIn a sign that the company recognizes the need for change, Wal-Mart (NYSE: WMT) has brought in former Kraft (NYSE: KFT) executive Linda Hefner to try to turnaround its home decor business, which has been sputtering for awhile now. According to Ms. Hefner's biography on the Kraft Foods website, she led "the development of Kraft's corporate business strategy including merger and acquisition activities around the world" and was CEO of Sara Lee's (NYSE: SLE) Underwear, Socks and Latin America Group.
While her track record looks impressive, I have to wonder if this hiring is more of the same that hasn't worked. Rather than bringing in an expert in the home decor business, Wal-Mart has brought in someone with an extensive background in retail but no experience, as far I can tell, in home decor.
Last week, I wondered whether Wal-Mart should try to team up with Pier 1 Imports. While that might not be realistic, the company's solution to its home decor woes probably doesn't involve an executive with experience selling underwear.
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