WALMART yesterday named Doug McMillon as its new chief executive, replacing Mike Duke who will retire next year after five years at the helm of the world’s largest retailer.
McMillon, who is currently in charge of Walmart’s fast-growing overseas empires including Asda in the UK, will take over from Duke on 29 January. Coming after the holiday shopping season, it is a time when the company will be facing intense competition from value discounters and other retailers.
The 47-year-old started his career with Walmart in 1984 working as a summer employee at one of the retailer’s distribution centres. In 1990, while studying for an MBA, he rejoined the company and spent the next 23 years climbing the ranks, mostly in merchandising roles.
“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,” chairman Rob Walton said.
“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,” he said.
Duke will continue as chairman of the executive committee of the board and stay on as an adviser to McMillon for a year.