Walmart heir Tom Walton has been named the next CEO of Runway Group of Bentonville, the private investment firm focused on outdoor developments that he co-founded with his brother Steuart.
Chris Seay, the company’s current CEO, will retire at the end of March after holding the position since October 2021. He previously served as chief operating officer for the holding company, which makes investments in real estate, outdoor initiatives, hospitality and other businesses in northwest Arkansas.
“I’d like to thank Chris for his commitment to our organization in getting Runway’s oriented for success,” Walton, the grandson of Walmart founder Sam Walton, said in a statement. “We are positioned well for the future, and we wouldn’t be here today without his leadership.”
Walton is chair of the Walton Family Foundation Home Region Program. In 2023, he was appointed to the Natural State Advisory Board, which was created by Gov. Sarah Huckabee Sanders to further establish the state as a leader in the outdoor economy.
Seay began his career as an attorney in New Orleans. He later joined Walmart’s international accounting and finance team and was adviser to, and acting CFO of, the company’s retail venture in Jakarta, Indonesia.
Following his time at Walmart, Seay co-founded and was principal of the SEAYCO Group, a Bentonville-based real estate development company that specialized in the development of commercial shopping centers.
“The past few years have been a wonderful experience and I have greatly enjoyed the opportunity to help build, shape, and elevate Runway,” Seay said in a statement. “And it has been a privilege to help guide investments in the people and the places to help make Northwest Arkansas an extraordinary region to live, work and play.”
Another leadership role within the company was also announced.
Krista Cupp will lead Runway Group’s community impact team as chief community officer. In her new role, she’ll oversee a new platform designed to make community investments in Bentonville and its adjacent communities.
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