Doug McMillon will become the new CEO of Walmart from February 2014, the retailer has announced, with current chief executive Mike Duke set to retire.
Duke will stay on as an advisor to McMillon during his first year in the role and serve as chairman of the Walmart board’s executive committee.
“This leadership change comes at a time of strength and growth at Walmart,” Rob Walton, chairman of Walmart’s board of directors, said today. “The company has the right strategy to serve the changing customer around the world, and Doug has been actively involved in this process. The company has a strong management team to execute that strategy.”
McMillon, an executive at the US retailer since 1990, is the current president and CEO of Walmart’s international division. Walmart confirmed it will make an announcement on McMillon’s successor as CEO of Walmart International by the end of the current financial year.
The world’s largest retailer and owner of Asda recently announced an international partnership with sourcing arm IPL to open a new fresh produce operation in Peru next year.
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