Monday November 25th, 2013 - 9:46AM
Today, Wal-Mart Stores, Inc. announced that its board of directors has elected Doug McMillon president and CEO succeeding Mike Duke. The company noted that Duke will continue serving as chairman of the board’s executive committee in the tradition of his predecessors, advising McMillon for one year.
Wal-Mart said it plans to make an announcement on McMillon’s successor as CEO of Walmart International by fiscal year’s end. The board also voted to appoint McMillon as a company director, effective immediately.
“This leadership change comes at a time of strength and growth at Walmart,” said Rob Walton, Walmart’s board chairman, in announcing a change that falls into the company’s established succession pattern. “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. 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.”