BENTONVILLE, Ark. (AP) — Wal-Mart Stores CEO and President Mike Duke plans to step down Feb. 1. The company says Doug McMillon, head of international operations, will succeed him.
Duke, 63, who had been with Wal-Mart since 1995, had been at the helm since February 2009. Duke will stay on as chairman. McMillon, 47, marks the fifth CEO since Wal-Mart's founder Sam Walton, and all of them have been home-grown with years of experience before taking the helm.
McMillon was also elected to the company's board of directors, effective immediately.
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