Wal-Mart Stores has named company veteran Doug McMillon its new president and chief executive officer, effective Feb. 1. He will succeed Mike Duke who will continue serving as chairman of the executive committee of the board and will remain in an advisory role for one year.
Incoming president and CEO Doug McMillon (photo courtesy of Wal-Mart Stores)
“This leadership change comes at a time of strength and growth at Walmart,” said Rob Walton, chairman of Wal-Mart’s board of directors, in a statement. “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.”
McMillon has served as president and CEO of Wal-Mart International since 2009. The division oversees more than 6,300 stores and more than 823,000 associates in 26 countries outside the United States. Prior to that role, he served as president and CEO of Sam’s Club.
Outgoing president and CEO Mike Duke (photo courtesy of Wal-Mart Stores)
Walton emphasized McMillon’s track record on social issues. “Mike also has a strong commitment to diversity, and has been especially engaged in advancing women throughout the organization,” he said. “He set a tone at the top to never be satisfied, to always accelerate and do better, while remaining true to the culture that has been core to the company’s success.”