Nov 22 (Reuters) - The head of Walmart's ( WMT )
$55-billion health and wellness division, who oversaw the
company's failed push into clinics, is leaving after less than
two years in the role, an internal memo seen by Reuters showed.
Brian Setzer, who has been executive vice president since
February 2023 of the division, which accounts for about 12.4% of
Walmart's ( WMT ) U.S. sales, is departing to pursue an opportunity in
his hometown of Nashville, according to the memo sent on Friday
by John Furner, CEO of Walmart's ( WMT ) U.S. operations.
Setzer will be replaced by Kyle Kinnard, who currently leads
Walmart's ( WMT ) neighborhood markets division in the United States,
Furner added.
Walmart ( WMT ) spokesperson L. Hope Moore said Setzer played a key
role in its health and wellness strategy.
"As we continue to provide access to quality healthcare
services and products, we are excited to have a strong
succession plan in place," Moore added.
Setzer's departure comes six months after Walmart ( WMT ) decided to
close all 51 of its U.S. health clinics and cease its virtual
healthcare operations, citing no path to profitability.
The decision represented a reversal from the retailer's 2023
plan to nearly double the number of health centers across the
U.S. by 2024.
Walmart ( WMT ) is now focusing on expanding its 4,600-store U.S.
pharmacy business and 3,000 vision care centers, aiming to
cross-sell medicines, including GLP-1 drugs, alongside cheap
groceries. In October, it announced it would start delivering
prescription medicines and medication refills along with
groceries and other items as a single order within 30 minutes.
On Tuesday, the Bentonville, Arkansas-based chain raised its
full-year sales and profit forecasts for the third time, as it
sold more essentials and merchandise to a wider cohort of
customers. This boost to its business is helping Walmart ( WMT ) lower
prices and invest in other parts of its business.