Walmart Stores’ board of directors has elected company veteran Doug McMillon, to succeed Mike Duke as president and chief executive officer of the company, effective Feb. 1.
Duke will continue to serve as chairman of the executive committee of the board and, in the tradition of his predecessors, stay on as an advisor to McMillon for one year. McMillon 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,” says Rob Walton, chairman, Walmart’s board of directors. “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.”
McMillon previously served as the president and chief executive officer of Walmart International and the company plans to announce his successor in that role by the end of the fiscal year.
Prior to leading the company’s international division, McMillon was president and chief executive officer of Sam’s Club, an operating segment of Walmart. Much of McMillon’s 22-year career at Walmart has been in merchandising in the Walmart U.S. division, with experience in food, apparel and general merchandise. He 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.
“The opportunity to lead Walmart is a great privilege,” says McMillon. “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.”