On September 28, 2005, Walton replaced his deceased brother, John, on the Wal-Mart Board of Directors. He is currently on the Strategic Planning and Finance committees. He was CEO of his family owned Arvest Bank, until becoming Chairman of Arvest Bank, and Chairman of newspaper firm Community Publishers Inc. (CPI) owned by Jim Walton himself (but founded by his father Sam Walton after acquiring the local newspaper the Benton County Daily Record, both operating in Arkansas, Missouri, and Oklahoma). He has pledged about $2 billion to the Walton Family Foundation along with his siblings from 2008 to 2013.