Wal-Mart Names New Chief of International Division
Bentonville, Ark. Wal-Mart Stores Inc. on Wednesday named the manager who leads its Sam’s Club division as the new chief of Wal-Mart's international stores. Doug McMillon, 42, will follow Mike Duke as president and chief executive of the international division. Duke has been named the new Wal-Mart president and CEO, replacing Lee Scott.
Duke and McMillon will assume their new duties Feb. 1.
"It is exciting to promote a long-term associate to lead our second largest business," Duke said in a statement. "Doug began his Wal-Mart career as an hourly associate, unloading trucks at a distribution center, while he worked his way through college. In his 18 years with the company, Doug has learned the business from the bottom up, with leadership roles in all three operating divisions."
Duke said he expects McMillon to enhance the company's growth overseas and to "export our culture."
Wal-Mart said it will name a leader for the Sam's Club division at a later date.
About a quarter of Wal-Mart's revenue comes from its international division, which operates in 12 countries and Puerto Rico. Its largest presence is in Mexico, with more than 1,000 stores.
Wal-Mart's international division had $90.6 billion in revenue for fiscal 2008, up 17.5% from the year before.
The company has been growing in China and has entered India through a joint venture with Bharti Enterprises for a wholesale operation.