Walmart has announced that it has appointed a new CEO to lead the largest retailer in the world. Doug McMillon will succeed Mike Duke, effective February 1, 2014.
There's a reason why Walmart is the world's largest and most popular retailer. The company, founded in 1962 by Sam Walton, has made a strong emphasis on leadership - a factor that made it the second largest public corporation in the world.
Today, Walmart's board of directors announced that it has elected a new CEO in the person of Doug McMillon. The 47-year old company veteran will succeed current CEO, Mike Duke, effective February 1, 2014. McMillon has also been elected to the board of directors.
Rob Walton, chairman of the board of directors, says that McMillon has a "broad experience" and a "deep understanding of the economic, social and technological trends." "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," Walton adds.
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