Wal-Mart Stores CEO steps down; McMillon successor PDF  | Print |  E-mail
Written by Associated Press   
Monday, 25 November 2013 09:56

BENTONVILLE, Ark. (AP) — Wal-Mart Stores CEO and President Mike Duke is stepping down from those posts. The world's biggest retailer named Doug McMillon as his successor. The 63-year-old Duke will stay on as chairman.

The 47-year-old McMillon's appointments are effective Feb. 1, 2014. He previously served as CEO of Walmart International.

The announcement came just days before the kickoff of the holiday shopping season.

Wal-Mart shares edged up in premarket trading.

McMillon will also join Wal-Mart's board. That appointment is effective immediately.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.