Bentonville, Ark., USA - November 25, 2013, Bentonville, Ark., USA - Wal-Mart Stores, Inc. announced that it has elected Doug McMillon to succeed Michael T. Duke as president and chief executive officer, effective February 1, 2014.
Article continues below
Mr. McMillon was also elected to the company's board of directors, effective immediately. He is the president and chief executive officer of Walmart International, a fast-growing segment of Walmart's overall operations. He also served as president and chief executive officer of Sam's Club.
In 1984, Mr. McMillon began his career with the company as a summer associate in a Walmart Distribution Center. In 1990, while pursuing his MBA, he rejoined the company in a Tulsa, Okla., Walmart store. Much of his 22-year career has been in merchandising in the Walmart U.S. division, with experience in food, apparel and general merchandise.
Mr. McMillon has also held various merchandising positions at Sam's Club and Walmart International in addition to holding leadership roles in all three operating segments of the company.
Mr. McMillon serves on the board of directors of the U.S. China Business Council, the executive committee and board of directors for Enactus (formerly known as SIFE), the Dean's Advisory Board for the Walton College of Business at the University of Arkansas and the board for Crystal Bridges, an American art museum. He also serves on the board of directors for Walmart Mexico, and he has been recognized as a Young Global Leader by the World Economic Forum.
Mr. McMillon graduated from the University of Arkansas in Fayetteville, with a bachelor of science in business administration. He received his MBA in finance at the University of Tulsa.
From 2005 to February 2009, Mr. Duke served as vice chairman of the company, with responsibility for Walmart International. Since joining Walmart in 1995, he has led the logistics, distribution and administration divisions as well as Walmart U.S. Prior to joining the company, he had 23 years of experience in retailing with Federated Department Stores and May Department Stores.
Mr. Duke has served on the board of directors of Wal-Mart Stores, Inc. since 2008, the board of directors of The Consumer Goods Forum, the executive committee of Business Roundtable and is on the executive board of Conservation International's Center for Environment Leadership in Business. ■