BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc., the world's largest retailer, named Jim Walton, the youngest son of late founder Sam Walton, to its board of directors.

Jim Walton, 57 years old, is chairman and chief executive of Arvest Bank Group, a Bentonville-based group of banks with total assets of $7.5 billion. He fills the vacancy created by the death of his older brother, John Walton, in June.

"Our family remains committed to the ongoing growth and improvement of Wal-Mart, and to representing the interests of all shareholders," said Rob Walton, chairman of Wal-Mart Stores.

Shares of the company fell 2 cents to $43.52 on the New York Stock Exchange.