$408 billion Wal-Mart Stores has promoted Executive Vice President and General Counsel Jeff Gearhart to assume the additional role of corporate secretary. He will report to Walmart President and CEO Mike Duke.

In other news, the company also announced that Executive Vice President and Corporate Secretary Tom Hyde, whose responsibilities include the legal, ethics, and global security organizations, will retire from the company after nine years of service. Both changes are effective August 1.

Gearhart will continue as general counsel overseeing the legal department, which is responsible for handling all legal matters affecting the company in its domestic and international markets. He will also continue to lead the company's ethical sourcing program.

Gearhart joined Walmart in 2003 and has served as executive vice president and general counsel since February 2009. Prior to that, he served as senior vice president and deputy general counsel since December 2007. Before joining Walmart, Gearhart spent 14 years in private practice.