Wal-Mart Shares Jump on Spending Plan

Hastings says Questrom has made his name as a turnaround leader and is unlikely to remain in the background.

"It would be encouraging to see Questrom as the authoritative leader of the Wal-Mart stores division where he could reshape the entire division into something closer to Target," he says.

Scott Rothbort, founder of LakeView Asset Management and a contributor to Street Insight, is doubtful that Questrom's election would have much of an impact at Wal-Mart.

"Is it really going to change the culture there?" he asks. "To me it looks like a publicity stunt more than anything else. Are they really going to allow him to change the company's entrenched culture? I don't think so."