BENTONVILLE, Ark.–Effective Feb. 1, Lee Scott will retire as president and chief executive officer of Wal-Mart. He will be succeeded by Mike Duke, who heads Wal-Mart’s international operations.
At the same time, Eduardo Castro-Wright, president and CEO of Wal-Mart U.S., has been named vice chairman, effective immediately.
Scott will remain as chairman of the executive committee of Wal-Mart’s board of directors, and will continue to work for Wal-Mart through Jan. 31.