Doug McMillon - Ceo Of Walmart Salary

Carl Douglas "Doug" McMillon (born October 17, 1966) is an American businessman and is the president and chief executive officer (CEO) of Wal-Mart Stores, Inc. He sits on the retailer's board of directors. Having first joined the company as a summer associate in high school, he became the company's fifth CEO in 2014. He previously led the company's Sam's Club division, from 2005 to 2009, and Walmart International, from 2009 to 2013.

Early life

McMillon was born in Memphis, Tennessee, and grew up in Jonesboro, Arkansas. He was the oldest of three children born to Laura and Morris McMillon, a dentist who served in Vietnam. His parents moved the family to Bentonville, Arkansas, the home of Walmart headquarters, when McMillon was 16. A sports enthusiast, McMillon played point guard on the Bentonville high school basketball team.

Career

McMillon has worked for Walmart throughout his career. He took on his first role with the company as a teenager in 1984. He later became a buyer, then moved into management roles before becoming CEO in 2014.

Early career

When he was a teenager, McMillon began his first job with Walmart as a summer associate. He worked during the summer unloading trucks in a distribution center. After high school, McMillon attended University of Arkansas, where he graduated with a bachelor's degree in 1989. The next year, as McMillon studied for a master of business administration (MBA) from University of Tulsa, he called Walmart and told an executive he was interested in training to become a buyer when he completed his studies. Soon thereafter, McMillon rejoined Walmart as an assistant manager at a Tulsa, Oklahoma, store. After completing his MBA in 1991, McMillon moved to Walmart's Bentonville headquarters to join the buyer-training program. Originally in charge of buying fishing tackle, he later took on various roles as a buyer and a merchandiser, dealing in food, clothes, crafts and furnishings. He later worked as a general merchandise manager for Walmart's wholesale store division Sam's Club before taking an e xecutive role at Walmart, overseeing toys, electronics and sporting goods, among other areas.

Sam's Club (2005â€"2009)

Walmart promoted McMillon to president and CEO of Sam's Club on August 4, 2005. Under McMillon, the wholesaler emphasized marketing to small business customers. Additionally, McMillon incorporated what The Wall Street Journal called "treasure hunt" items, premium items including diamond necklaces and wine vacations, in an attempt to compete with Costco Wholesale Corp.

Walmart International (2009â€"2013)

Walmart officials moved McMillon from his role at Sam's Club to lead Walmart's international division in February 2009, replacing Mike Duke, who was promoted to CEO of Wal-Mart Stores, Inc. Under McMillon, Walmart International focused on improving in existing markets, such as Canada, China, United Kingdom and the Americas. One area of particular importance to McMillon was integrating Walmart's "everyday low prices" model to these international markets. Also under McMillon, the international division acquired a majority stake in South Africa's Massmart Holdings Ltd. for US$2.4 billion.

During McMillon's tenure, Walmart International's sales growth outpaced Walmart U.S. and grew to 29 percent of total sales companywide. When McMillon first became head of the division, it comprised more than 3,300 stores in 14 countries. When Walmart announced it would move him to head Wal-Mart Stores, Inc. in late 2013, Walmart International operated 6,300 stores in 26 countries.

CEO of Wal-Mart Stores, Inc. (2014â€"present)

Walmart announced on November 25, 2013, that McMillon would immediately join the company's board of directors, and would replace Mike Duke as Walmart CEO on February 1, 2014, becoming the company's fifth-ever chief executive.

McMillon took over the company at a time of slowing growth and increased competition from rivals, such as Costco, Amazon.com, grocery store chains Kroger and Safeway, and discount chains of small stores like Family Dollar and Dollar General. Within his first two years as chief executive, McMillon raised wages for hourly workers in the U.S., boosted the company's commitment to e-commerce and revamped Walmart's executive team. While increased spending on labor and Walmart's digital offerings lowered short-term profits, McMillon stated that the moves would lead to happier workers and better customer service, as well as a better footing in a changing retail market.

In February 2015, McMillon announced Walmart would invest an additional US$2.7 billion in higher associate wages, benefits and training, including raising its lowest wage to US$9 an hour in 2015 and US$10 an hour for 2016. The action affected 40 percent of the company's 1.4 million U.S. workers. In January 2016, McMillon announced raises for the majority of its workers, free basic short-term disability for full-time workers and a revised paid time off program.

McMillon made it a long-term goal of Walmart to increase investments in e-commerce, stressing a need to create a "seamless shopping experience". As such he announced in 2015 that Walmart would invest US$1 billion on its online operations. Another goal of McMillon's is to improve the company's environmental sustainability and eliminate waste across the company. In 2014, Walmart began rolling out an initiative to replace lighting in its stores in the U.S., UK, Latin America and Asia with LED lights for energy efficiency. At the Davos World Economic Forum in January 2016, McMillon said Walmart would press three of its main goals: supply the company with renewable energy, eliminate waste and promote sustainably packaged goods.

As CEO, McMillon sought to make a "positive difference" in other issues. On March 31, 2015, McMillon issued a statement urging Arkansas Gov. Asa Hutchinson to veto the state's "religious freedom" bill. McMillon said the bill "threatens to undermine the spirit of inclusion present throughout the state of Arkansas and does not reflect the values we proudly uphold". In June 2015, McMillon said the company would stop selling Confederate flag merchandise following the shooting of nine black churchgoers in Charleston, South Carolina. McMillon also altered Walmart's gun sales. He told CNNMoney in an interview that Walmart's selection of firearms should be geared towards hunters and sports shooters. In August 2015, the company ceased sales of military-style semiautomatic weapons.

Forbes named McMillon to its World's Most Powerful People list in 2014 and 2015, where he ranked No. 29 and No. 32, respectively. ExecRank ranked McMillon No. 4 on its 2015 list of top CEOs for large companies.

Personal life

McMillon lives with his wife, Shelley, in Bentonville, Arkansas. They have two sons.

References

External links

• Official website