Lee Scott, former president and CEO of Wal-Mart, has joined Solamere Capital as an operating partner and member of the firm’s investment committee. He had joined Wal-Mart in 1979 as an assistant director in the company’s logistics division, and served as president and CEO for nine years until leaving this past February.
Lee Scott, former Wal-Mart CEO, has joined the private equity firm Solamere Capital as an Operating Partner and as a member of its Investment Committee. Mr. Scott will assist Solamere Capital in the evaluation of investment opportunities and will play a key role in contributing to the growth of its portfolio companies.
“I am excited to be working with Solamere’s management team and founding investors,” said Lee Scott. “I believe that Solamere Capital and its network of partners are uniquely positioned to help a broad range of businesses add topline growth. I am encouraged about Solamere’s distinctive approach to private equity and I am looking forward to being a part of the long-term development of this firm.”
“Lee’s leadership experience and his ability to identify growth opportunities will greatly benefit our investors, partner funds and future portfolio companies by adding substantial value to our investment process. We are honored to be working with Lee in this capacity,” said Managing Partners Tagg Romney, Eric Scheuermann and Spencer Zwick and Operating Partner John Miller in a joint statement.
Lee Scott is chairman of the executive committee of the Board of Directors of Wal-Mart Stores, Inc. From January 2000 to February 2009, he served as president and CEO of Wal-Mart. Mr. Scott joined Wal-Mart in 1979 as an assistant director in the Logistics division, rising through the ranks to executive vice president of Logistics in 1993 and executive vice president of Merchandise in 1995. He became president and chief executive officer of the Wal-Mart U.S. division in 1998, chief operating officer and vice chairman for the corporation in 1999, and president and CEO in 2000.
Mr. Scott is a native of Baxter Springs, Kansas, and resides in Rogers, Arkansas, with his wife Linda.
About Solamere Capital:
Solamere Capital was founded to serve as a unique investment vehicle for a small number of families and industry leaders with broad networks that aspired to aggregate their access to top-tier private equity firms, proprietary deal flow, management resources and industry insight.