A History Of The Waltons' Reign Over Wal-Mart

Retail giant Wal-Mart Stores, Inc. (NASDAQ: WMT) will be keeping its chairman of the board position in the Walton family, as the company announced on Friday that Greg Penner, grandson-in-law to founder Sam Walton, will take over the position.

The Walton family has maintained influential positioning in Wal-Mart throughout the years and amassed an incredible fortune from the global brand.

Related Link: Wal-Mart Names New Chairman Of The Board And It's Another Family Member

Here’s a timeline of the history of Wal-Mart and the Waltons:

• 1962: Sam Walton opens the first Wal-Mart store in Rogers, Arkansas.
• 1970: Wal-Mart becomes a publicly traded company, selling its first shares for $16.50.
• 1972: Wal-Mart becomes listed on the New York Stock Exchange after recording annual sales of $68 million.
• 1978: Sam Walton’s son Rob Walton joins Wal-Mart’s board of directors.
• 1983: The first Sam’s Club opens in Midwest City, Oklahoma.
• 1988: The first Wal-Mart Supercenter opens in Washington, Missouri. Sam Walton retires.
• 1992: Sam Walton passes away at the age of 74 and is succeeded by Rob Walton, who is named Wal-Mart’s chairman of the board.
• 1996: Wal-Mart opens its first stored in China.
• 1997: Wal-Mart achieves its first $100 billion sales year.
• 2000: Wal-Mart.com is founded, allowing customers to shop online.
• 2002: Wal-Mart achieves the top spot on the Fortune 500 list of America’s largest companies.
• 2004: Greg Penner is elected to the board of directors of Baidu Inc (NASDAQ: BIDU).
• 2007: Greg Penner joins the board of directors of Hyatt Hotels Corp (NYSE: H).
• 2008: Greg Penner is elected to the Wal-Mart board of directors.
• 2015: Greg Penner succeeds Rob Walton as Wal-Mart’s chairman of the board.