Wal-Mart Names New Chief Executive

@AFP

New York (AFP) – Global retail titan Wal-Mart Stores on Monday named Doug McMillon, a company veteran who heads its international operations, to replace chief executive Mike Duke when Duke retires early next year.

McMillon, 47, has overseen Walmart’s fastest-growing division since 2009, keeping up the growth of the world’s largest retailer through the global economic downturn.

He has also been in charge when the company has faced damaging allegations of bribery and other misconduct in Mexico, India and other countries, and charges of insensitivity to worker safety in supplier locations like Bangladesh where factory fires and collapses have killed and injured thousands.

A native of Arkansas, the home base of Walmart, McMillon first worked for the company in a summer job when he was 18 and then joined it permanently while in graduate school in 1990.

He held various executive positions, including head of Sam’s Club, Walmart’s bulk-purchase membership stores.

He follows in the footsteps of Duke, who moved from the international division into the chief executive’s job in 2009, expanding Walmart to more than 11,000 stores under various brand names in 27 countries, and a staff of more than two million.

Duke will step down on February 1, 2014.

“This leadership change comes at a time of strength and growth at Walmart,” said Rob Walton, chairman of the company’s board of directors.

“A merchant at heart, Doug has both a long history with our company and a keen sense of where our customers globally are heading next,” said Walton, whose family controls the company.

Wal-Mart Stores shares were up 0.4 percent to $80.13 in opening trade Monday.

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Joe Biden
President Joe Biden

Last week,The Economist's presidential polling average set in motion a reevaluation of the general election when President Joe Biden pulled ahead of Donald Trump for the first time since September 2023.

Keep reading...Show less
Alex Jones

Alex Jones

At a press conference on Tuesday, March 26, Maryland Gov. Wes Moore told reporters that there was no sign of terrorism or foul play in the collapse of Baltimore's Francis Scott Key Bridge — which had been struck by a freighter. According to Moore and the Biden White House, there was no indication that it was anything other than a tragic accident.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}