Wal-Mart Names McMillon C.E.O. of International Unit
Doug McMillon will succeed Mike Duke as president and c.e.o. of the international division. Duke was recently named to replace Lee Scott as Wal-Mart's new president and c.e.o. Both Duke and McMillon will assume their new duties Feb. 1.
"Doug is joining Wal-Mart International at a time of strength and momentum," said Duke. "We have a strategy to win in all markets, and our international team is exceptionally strong across the board. We have never had a more talented group of regional leaders and country presidents. 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."
McMillon began his Wal-Mart career as an hourly associate, unloading trucks at a distribution center while working his way through college. In his 18 years with the company, McMillon learned the business from the bottom up, with leadership roles in all three operating divisions.
McMillon said he is "[humbled] 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. The potential is huge and the need is great. 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."
McMillon's successor as president and c.e.o. of Sam's Club will be named at a later date.
Wal-Mart International accounts for about 25 percent of the company's revenue. Through the 43-week period ending Nov. 28, 2008, Wal-Mart International sales were more than $80.6 billion. Today, it operates over 3,300 stores under more than 50 banners.