December 21, 2014
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 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.