McMillon to Succeed Duke as Walmart CEO
BENTONVILLE, Ark.-Doug McMillon has been named the new president and CEO of Walmart Stores. He will succeed Mike Duke on Feb. 1, 2014.
McMillon, currently president and CEO of Walmart International, was also elected to the company's board of directors, effective immediately.
"This leadership change comes at a time of strength and growth at Walmart," said Rob Walton, chairman of Walmart's board of directors. "The company has the right strategy to serve the changing customer around the world, and Doug has been actively involved in this process. The company has a strong management team to execute that strategy."
Walton continued, "Doug is uniquely positioned to lead our growing global company and to serve the changing customer, while remaining true to our culture and values. He has broad experience--with successful senior leadership roles in all of Walmart's business segments--and a deep understanding of the economic, social and technological trends shaping our world. 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. He has also shown strong leadership on environmental sustainability and a commitment to using Walmart's size and scale to make a difference in the lives of people, wherever they might be."
McMillon began his career at Walmart in 1984 as a summer associate in a Walmart distribution center. In 1990, while pursuing his MBA, he rejoined the company. Much of McMillon's 22-year career has been in merchandising in the Walmart U.S. division, with experience in food, apparel and general merchandise. From 2006 to February 2009, McMillon served as president and CEO of Sam's Club.
"The opportunity to lead Walmart is a great privilege," McMillon said. "Our company has a rich history of delivering value to customers across the globe and, as their needs grow and change, we will be there to serve them. Our management team is talented and experienced, and our strategy gives me confidence that our future is bright. By keeping our promise to customers, we will drive shareholder value, create opportunity for our associates and grow our business."