July 25, 2016 / 7:05 PM / in 3 years

MOVES-Former Wal-Mart CFO Holley to join Deloitte as adviser

July 25 (Reuters) - Wal-Mart Stores Inc’s former chief financial officer, Charles Holley, will join Deloitte LLP, the U.S. arm of Deloitte Touche Tohmasu Ltd as an independent senior adviser, the auditing firm said on Monday.

Holley, who served as the CFO of Wal-Mart, the world’s largest retailer, from December 2010 to January 2016, will join Deloitte’s ‘U.S. CFO Program’ and advise staff, clients and senior leadership.

The CFO program equips finance chiefs to deal with challenges and strategic shifts, Deloitte said.

As Wal-Mart’s CFO, Holley was responsible for accounting and financial controls. A month before his retirement was announced last October, the retailer said it found a “material weakness” in its controls over accounting for leases, though any adjustments to its financial statements would be immaterial.

Wal-Mart did not mention the accounting issue when announcing Holley’s retirement and said the former CFO had elected to retire.

At the time, Wal-Mart Chief Executive Officer Doug McMillon said Holley oversaw “a period of immense company growth and change” and that he played a key role in “driving significant shareholder returns.” (Reporting by Nandita Bose in Chicago; Editing by Jeffrey Benkoe)

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