<p>Wal-Mart Stores has appointed Doug McMillon, to succeed Mike Duke, 63, as President and CEO of the company. Elected by the Board of Directors, McMillon's appointment will be effective February 1, 2014. McMillon was also elected to the Wal-Mart's Board of Directors, effective immediately. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“This leadership change comes at a time of strength and growth at Walmart,” said Rob Walton, Chairman of Walmart’s Board of Directors. “The company has the right strategy to serve the changing customer around the world, and Doug has been actively involved in this process. The company has a strong management team to execute that strategy.” </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Walton continued, “Doug is uniquely positioned to lead our growing global company and to serve the changing customer, while remaining true to our culture and values. He has broad experience – with successful senior leadership roles in all of Walmart’s business segments – and a deep understanding of the economic, social and technological trends shaping our world. A merchant at heart, Doug has both a long history with our company and a keen sense of where our customers globally are heading next. He has also shown strong leadership on environmental sustainability and a commitment to using Walmart’s size and scale to make a difference in the lives of people, wherever they might be.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>McMillon, noted that Wal-Mart has a rich history of delivering value to customers on an international scale and as their needs grow and change, the company will be there to serve them. The company plans to make an announcement on McMillon’s successor as CEO of Walmart International by the end of the fiscal year.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“Mike put in place the building blocks for the next generation Walmart and today the company is stronger, more global and more unified across all our stores, mobile and online,” said Walton. “He also reinvigorated the productivity loop and delivered strong financial performance. During his tenure the company made critical investments in talent and technology to expand Walmart to even more customers globally and stepped up its progress on social and environmental issues. Mike also has a strong commitment to diversity, and has been especially engaged in advancing women throughout organization. He set a tone at the top to never be satisfied, to always accelerate and do better, while remaining true to the culture that has been core to the company’s success.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“This is a great company and it has been an honor to help advance Sam Walton’s vision of giving people around the world a better life,” said Duke. “Our associates make it all possible and I’ve learned so much from them. No matter where I traveled, our associates continued to inspire me with their commitment to living our values, serving our customers and taking care of each other.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Duke will continue serving as Chairman of the Executive Committee of the Board.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Congratulations Doug on your appointment as CEO!</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://stock.walmart.com" target="_new"> Wal-Mart </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
