Walton foundation hires new director to start this fall

AP News
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Posted: Jun 15, 2016 11:10 AM

LITTLE ROCK, Ark. (AP) — The Walton Family Foundation has hired a new executive director to lead the philanthropic organization starting this fall.

The foundation created by Wal-Mart's founders announced Wednesday that it hired Kyle Peterson, a managing partner and board member of the nonprofit consulting firm FSG based in Boston.

Peterson has worked with FSG since 2002 on education, health, economic development and environmental projects.

Peterson will be the third executive director in the foundation's history, replacing Buddy Philpot, who announced last year he will move to Walton Enterprises. The foundation funds grants to programs for K-12 education, environmental causes and improving the quality of life for the Northwest and Delta regions of Arkansas.

The foundation gave out grants worth nearly $375 million in 2015 and has pledged $2 billion more through 2020.