Supermarket chain Wal-Mart stores has announced the appointment of Doug McMillon as the new President, CEO of Wal-Mart International from February 1. Presently, McMillon is the president and CEO of Sam’s Club. McMillon will replace Mike Duke, who was elected in late November to succeed Lee Scott as Wal-Mart stores’ CEO from February 1, according to a top company official.
Commenting on the same, Doug McMillon, said, “It is both exciting and humbling to join the team that is taking the Wal-Mart mission of saving people money so they can live better to customers around the world. Our strategy of focused execution, leveraging our global scale, our global commitment to low prices and the dedication of our associates positions us well for further success.”
“Doug is joining Wal-Mart International at a time of strength and momentum. We will continue to focus on emerging markets with strong growth potential, as well as established markets that we believe have the potential to deliver consistently strong returns,” added Mike Duke, CEO, Wal-Mart stores.
Wal-Mart International accounts for approximately 25 per cent of the company’s revenue. Today, it operates more than 3,300 stores under more than 50 banners.
— IndiaRetailing Bureau